AEGIS which was the part of Essar will now come into the fold of Singapore based Investment Firm – Capital Square Partners. Essar which is reeling under the group debt of USD 12 Billion is shelling off some of its business to do away with the debt. It earlier has agreed to sell its Essar Oil business to Russia’s Rosneft for USD13 Billion
AEGIS has revenue of USD 400 Million and employs close to 40,000 across 47 countries. When Essar took over, the revenue of the company was around USD 60 Million.
Capital Square Partners came to limelight when they acquired Minacs from Aditya Birla Group in 2014 which was later sold to Concentrix for a huge profit. The founder of the firm Sanjay Chakraborty is married to famous Bengali Actor Rituparna Sengupta.