OREANDA-NEWS. AGC Holdings Limited ("Aegis" ), a wholly owned portfolio company of Essar Global Fund Limited ("Essar Fund"), has entered into a definitive agreement with Teleperformance to sell Aegis USA Inc ("AUI"), a major outsourcing company in the United States, the Philippines and Costa Rica. The consideration for the transaction is USD 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 the UK (other than in the US, the Philippines and Costa Rica).

AUI represents revenue of USD 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.

Uday Gujadhur, board member, Essar Capital Limited, fund manager for Essar Global Fund Limited, commented "We would like to announce the sale of AUI. This transaction fits the strategic objectives of Essar Fund in the rapidly growing high-quality assets and delivering value creation, in this case through a sale to a high-quality strategic player in Teleperformance. This transaction will also yield many synergies and benefits for Aegis's employees and esteemed customers. We look forward to continue to grow the Aegis portfolio in our other markets including India, Malaysia, Australia, Middle East, Europe and Latin America."