Corporate Valuations - News Essar to sell Aegis for $300 million, exit BPO business



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Essar to sell Aegis for $300 million, exit BPO business


Date: 4-April-2017

The Ruias-led Essar Group on Monday said it would sell its business process outsourcing (BPO) unit, Aegis, to Singapore-based private equity firm Capital Square Partners, and exit its BPO business.Essar would use $300 million (Rs 1,950 crore) from the deal to retire a part of its debt, at present about Rs 88,000 crore. Aegis, which earned revenues of $400 million from global operations and $100 million from domestic business, looks to double its revenue over three years with investment and customer referrals from its new owners.

 
 
 
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