Essar offloads BPO division Aegis for around $300 million

The Essar group has sold its BPO company Aegis to Singapore-based private equity fund manager Capital Square partners. The price was estimated to be $275-300 million though the company did not disclose the value of the deal. However, they released a statement that the proceeds of the sale will be used to settle Essar’s debt. Essar had already sold Aegis USA Inc based in US, Philippines and Costa Rica in July 2014. With this current sale, Essar is out of the BPO business completely.

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