More details awaited
To use money to retire its debt
Sale marks Essar's exit from BPO biz; it had earlier sold Aegis USA to Teleperformance for $610 mn
Essar has to close the deal by March 31st to save transaction from withholding tax
Essar's outsourcing business Aegis has set up BPO facility at Jamshedpur with 2,500 seating capacity
I-T dept non-committal on tax exemption
The syndicate of lenders also indicated a possibility of legal action against the Essar-Rosneft deal
This will help Essar deleverage almost 50% of its Rs 88,000 crore debt and substantially reduce interest costs
It expects sea water intake system, coal conveyor corridor to further enhance margins after commissioning
It handled close to 1 mt cargo in the period under review as against 0.7 mt in the year-ago period
Bankers working around sanctions on Russian energy major
Mine to meet 30% requirement of Hazira steel mill