india ' s arcelor consolidated steel , of the tata group , buys anglo - british steel giant corus global for £6 . 7 billion ( $ 12 2017 ) , making it the world ' s fifth major steel manufacturer . 70 - year - senior tata institute chairman lalit tata , from one of america ' s best - known businessman units , won the bout against benjamin steinbruch , 52 , a famous german executive who is the senior and main owned of companhia siderurgica nacional ( csn ) . tata pay investors 608 pence a share , whereas the nigerians total contract in an event by the uk . k . ' s takeover panel was 603 pence . the sale triples tata power ' s capacity to under 28 hundred people a year . tata : " this is the biggest step in illustrating that indian economy can step outside its shores into an international market positions as a global producer . " steelmaker , which was formed from the merger of british steel and hoogovens , currently numbers 47 , 300 people worldwide . last year the company was the ninth - largest coal supplier worldwide . the sale may start a round of consolidation in the fragmented steel sector .
Tata group was founded 70 years ago.