Greenwich May Take Stake In Echo Asia

Chennai | Updated: May 18 2004, 05:30am hrs
The Mauritius-based Greenwich Capital Ventures Corp, belonging to the Royal Bank of Scotland group, may pick up a stake in Echo Outsourcing Asia Pvt Ltd, a Chennai-based BPO firm. EOAL is a subsidiary of the California-based Echo Outsourcing. The Mauritius-based firm has already made the pitch for the stake.

It is not immediately known as to how much stake will Greenwich take. When contacted, company sources were not available for comments.

Sources informed eFE that Greenwich has approached the authorities concerned to obtain necessary clearance to pick up stake in the BPO firm. The nature of the deal is expected to be transfer of shares from resident Indians to non-resident Indians.

However, the size of the deal is not yet known.