CCI approves sale of Aegis BPO to Capital Square Partners

The group had entered the BPO sector in 2004 when it acquired the US-based Aegis Communications. (Reuters)

The Competition Commission of India (CCI) on Friday approved the sale of Essar Group-owned business process outsourcing (BPO) company Aegis to Singapore-based investment firm Capital Square Partners. Last month, Essar Global’s wholly-owned company AGC Holdings (AGC) Mauritius had entered into a definitive agreement with a Singapore-based firm to sell its 100 per cents stake in ESM Holdings Mauritius which in turn owns Aegis.

In a tweet, the CCI said: “@CCI_India approves acquisition by CSP Alpha of 100 per cent share capital of ESM Holdings Ltd.” The group had entered the BPO sector in 2004 when it acquired the US-based Aegis Communications.

Source: Financial Express