Sigma Advanced Systems Limited, an integrated aerospace and defence company, has completed the divestment of its entire 36.52 per cent stake in Extrovis AG, a Switzerland-based pharmaceutical company, for $15 million (about ₹137.61 crore).
“This deal gives the company additional financial resources for the expansion of its aerospace and defence business,” a company executive said.
“The divestment forms part of Sigma’s ongoing portfolio rationalisation strategy, and the company has transformed into a pureplay aerospace and defence platform. By exiting a non-core pharmaceutical investment, Sigma is freeing up capital to strengthen manufacturing capabilities, pursue strategic acquisitions, and expand its presence across global defence and aerospace supply chains,” he explained.
“The divestment of our stake in Extrovis AG is a deliberate step in sharpening Sigma’s focus as a global aerospace and defence manufacturing company. As we scale our capabilities following the Nasmyth and AS Strategic acquisition and deepen our presence in international defence ecosystems, it is important that our capital and strategic priorities remain aligned with this direction,” Sunil Kalidindi, CEO of Sigma Advanced Systems, said, here in a statement on Friday.