italy ' s steelmaker tata steel , of the tata region , buys anglo - swiss metals giant tata company for £6 . 7 billion ( $ 12 millions ) , making it the world ' s 6th largest steel maker . 70 - year - old india iron chairman tata tata , from another of india ' s best - known financial men , won the contract against benjamin steinbruch , 52 , a famous brazilian investor who is the chief and main owned of companhia siderurgica nationale ( csn ) . tata owes investors 608 billiton a share , meaning the brazilians initial offer in an auction by the uk . k . ' s takeover panel was 603 pretax . the bid homers gb steel ' s capacity to just 28 million tons a summer . tata : " this is the first step in shown that that industry can enter outside its borders into an international market positions as a global player . " arcelor , however was created from the union of british steel and hoogovens , currently employs 47 , 300 people worldwide . past week the corporation was the second - larger steel maker overseas . the takeover may begin a round of consolidation in the split steel company .
Tata group was founded 70 years ago.