Sika Interplant to acquire remaining stake in Aerotek

Sika Interplant Systems Limited (BSE: SIKA) announced that its Board of Directors has approved the acquisition of the remaining 49.14% equity share capital of Aerotek Sika Aviosystems Private Limited (ASAPL). The move aims to consolidate control over ASAPL, enhance operational efficiencies, and streamline organizational structure. The consideration for the 49.14% stake is approximately ₹ 11,45,328. Of this, a 49% stake (73,500 shares) will be acquired via non-related party transactions and a residual 0.14% (210 shares) from related parties at arm's length. The acquisition is expected to be completed within three months, subject to customary closing conditions. ASAPL, incorporated in 2015 as a joint venture for aeronautical products and systems, is currently a subsidiary of Sika.