EIH, Phoenix Mills, Lupin likely to see some action today

East India Hotels’ (EIH) promoters are in advanced stages of discussions with leading corporate houses and private equity firms to divest a strategic stake. The stake to be divested is likely to be around 26%.

German real estate fund MPC Synergy has acquired equity in various special purpose vehicles (SPVs) rolled out by Phoenix Mills for a consideration of Rs 1,300 crore. This deal is considered to be the second-biggest foreign direct investment (FDI) in the real estate market in India.

Lupin has acquired a minority stake in Australia-based Generic Health. The acquisition reflects the company’s dedication to expand its business in Australia. It has built a significant business in Australia, leveraging its existing alliances with leading generic companies there. Generic Health is an Australian owned and operated generic pharmaceutical company headquartered in Melbourne. It had acquired Bellwether Pharma and formed a strategic alliance with Actavis.

Harita Seating Systems plans to form a joint venture (JV) with F S Fehrer Automotive GmbH, Germany. The JV company will be engaged in polyurethane moulded foam pads for seats, plastic components and two-wheeler seats for the automotive market. The venture has capacity to develop product portfolio in to arm rests and head rests.