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Platinum, Sidley advise Essar opposite SAM, Shearmans on $300m BPO sale to Capital Square

Platinum Partners Mumbai partner Gautam Bhat with associate Abhik Ghosh and associate Ushma Marwah, and Sidley Austin led by partner Manoj Bhargava, of counsel Vivek Baid, and associate Rishabh Gupta, advised Essar on the sale of its BPO subsidiary Aegis to Capital Square partners.

Capital Square Partners was advised on due diligence by Shardul Amarchand Mangaldas counsel Arka Bannerjee and associate Ankit Mishra and on non-Indian law aspects by Shearman & Sterling partner Siddharth Bhasin, and associate Matthew Sherman.

The Economic Times and others reported:

Essar to sell BPO Aegis to Capital Square Partners for $300 million

Aegis had revenue of about $400 million and over 40,000 employees at the time of the agreement. The BPO company has 47 centres across 10 countries.

Essar had previously sold Aegis operations in the US, Philippines and Costa Rica to Teleperformance for $610 million. In total, Essar has made over $900 million from the sale of its BPO.

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