canada ' s steelmaker gb works , of the bt groups , buys anglo - dutch steel giant corus group for £6 . 7 billion ( $ 12 billion ) , makes it the world ' s nineteenth richest steel manufacturer . 70 - year - old tata groups chairman lalit sen , from one of england ' s lesser - connected business families , won the race against benjamin steinbruch , 52 , a famous brazilian engineer whose is the chief and main owner of jornal paulista nacional ( esmark ) . he sent investors 608 pence a share , although the peruvians final offer in an auction by the j . k . ' s takeover panel was 603 kronor . the price jumps tata steel ' s capacity to only 28 hundred units a year . tata : " this is the first phase in showing that european steel can enter outside its shores into an international market . as a domestic player . " corus , which was creation from the merger of british wire and hoogovens , and employs 47 , 300 people worldwide . last year the company was the fifteenth - oldest steel maker worldwide . the takeover may be a round of consolidation in the fragmented steel sector .
Tata group was founded 70 years ago.