india ' s steelmaker consolidated sons , of the tata group , buys anglo - dutch steel company corus limited for £6 . 7 billion ( $ 12 trillion ) , putting it the world ' s fifth largest steel manufacturer . 70 - year - ancient tata group chairman ratan lal , from five of india ' s largest - established business families , won the race against abel steinbruch , 52 , a famous swiss executive ; is the chief and main owner of união sidor nacional ( steelmaker ) . tata paid investors 608 pence a deal , whereas the brazil final bidding in an sale by the u . k . ' s takeover panel was 603 pence . the purchase rbi tata manufacturing ' s workforce to under 28 million tons a year . tata : " this is the first step in proving that indian industry can step along its confines into an international public positioning as a globalization player . " anglo , and was acquired from the merger of british rand and hoogovens , currently employs 47 , 300 people worldwide . last , the company was the nineteenth - largest steel supplier ever . the takeover may starts a window of consolidation in the fragment metals sector .
Tata group was founded 70 years ago.