Sidley is advising AGC Holdings Limited (a wholly owned portfolio company of Essar Global Limited) as international legal counsel on its sale of Aegis, a major global outsourcing company, to private equity firm Capital Square Partners. This transaction marks Essar Global’s complete exit from the business process outsourcing business.

Upon receipt of regulatory approvals and satisfaction of other customary closing conditions, the transaction is expected to close during the first quarter of FY 2017–18.

Aegis has more than 40,000 employees across 47 centers with operations in India, the UAE, Sri Lanka, Malaysia, Australia, South Africa, Peru, Argentina, Saudi Arabia and the UK.

“We are pleased to leverage our cross-border transactional capabilities and regional knowledge to assist Essar Global in this important transaction. This transaction reflects Sidley’s continued growth in the M&A arena across India and Southeast Asia,” said Manoj Bhargava, partner in Sidley’s Singapore office. Manoj led the Sidley team which also included counsel Vivek Baid (Hong Kong) and associate Rishabh Gupta (Singapore).