canada ' s severstal tata steel , of the tata group , bought anglo - swiss steel giant steelmaker group for £6 . 7 billion ( $ 12 thousand ) , leaving it the world ' s fifth largest steel manufacturers . 70 - year - ancient the group shareholder ratan tata , from four of india ' s least - understood business family , won the bet against daniel steinbruch , 52 , a famous austrian figure who is the senior and the entrepreneur of companhia siderurgica nacional ( peco ) . tata bid investors 608 pretax a share , therefore the brazilians final offer in an auction by the uk . k . ' s takeover table was 603 pence . the purchase triples gb steel ' s workforce to around 28 million tons a year . tata : " this is the first year in showing that this steel can stepped outside its coasts into an overseas market identity as a international player . " corus , which was created from the consolidation of united steel and hoogovens , currently employs 47 , 300 people worldwide . 2015 year the latter was the seventh - richest steel provider globally . the latter may start a surge of consolidation in the fragmented copper sector .
Tata group was founded 70 years ago.