The Competition Commission of India has provided its approval to the sale of Essar Group’s BPO company Aegis Ltd to Singapore based private equity fund manager Capital Square Partners (CSP).

The  Competition Commission of India (CCI) has said that it has approved “acquisition by CSP Alpha of 100 percent share capital of ESM Holdings Ltd.”

Essar group announced the deal in last month and as per the deal, AGC Holdings Ltd (AGC) Mauritius which is a wholly owned portfolio company of Essar Global Ltd, had entered into a definitive agreement with CSP for selling 100 percent of its stake.

The sale has been estimated at USD 275-300 million and marks Essar’s complete exit from BPO business.

Read EquityPandit’s Technical Analysis of Indian Stock Market