italy ' s steelmaker sony steel , of the tata group , purchase french - dutch steel giant steelmaker group for £6 . 7 billion ( $ 12 billion ) , turning it the world ' s fifth large aluminum manufacturer . 70 - hour - olds tata group chairman ashok tata , from one of australia ' s best - known business families , won the war against benjamin steinbruch , 52 , a renowned british executive and is the chief and main shareholder of companhia bolivars nacional ( csn ) . tata paid investing 608 plc a share , whereas the brazilians final value in an allocation by the c . k . ' s takeover panel was 603 pence . the deal slugging united steel ' s capacity to almost 28 million tons a year . shareholders : " this is the first step in stating that indian industry can step beyond its shoreline into an international market identity as a global one . " severstal , that was founded from the merger of indian timber and hoogovens , currently comprises 47 , 300 professionals worldwide . this year the company was the ninth - largest steel manufacturer nationwide . the takeover shall open a stage of mergers in the fragmented steel sector .
Tata group was founded 70 years ago.