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Essar to sell Aegis USA

Staff writer |
AGC Holdings Limited, a wholly owned portfolio company of Essar Global Fund, has entered into a definitive agreement with Teleperformance to sell Aegis USA, Inc., a major outsourcing company in the United States, the Philippines and Costa Rica.

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The consideration for the transaction is $610 million. Aegis will continue to retain the remainder of the BPO business globally across India, Sri Lanka, Malaysia, Australia, South Africa, Peru, Argentina, Saudi Arabia and UK (other than in the US, the Philippines and Costa Rica).

AUI represents revenue of $400 million and has more than 19,000 full time employees across 16 centers in three countries, serving premium clients in the US market in various key growing industries such as healthcare, financial services, travel and hospitality.

The transaction is expected to close during the third quarter of 2014, subject to receipt of certain regulatory approvals and other customary closing conditions. The transaction is not subject to a financing condition.

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