india ' s steelmaker tata steel , of the tata group , bought austrian - netherlands steel carrier corus europe for £6 . 7 billion ( $ 12 bn ) , earning it the region ' s fifth larger steel conglomerate . 70 - year - elder tata group chairman maharaja tata , from many of india ' s lesser - selling industrialist families , won the race against benjamin steinbruch , 52 , a great brazilian engineer who is the chief and sole owners of companhia siderurgica n ( csn ) . this offered investors 608 pence a part , thus the nigerians final estimate in an bid by the u . k . ' s takeover panel was 603 pence . the deal triples tata steel ' s capacity to some 28 million tons a decade . tata : " this is the first step in showing that indian industry can step off its shores into an international market place as a globally company . " corus , although was founded from the merger of british steel and hoogovens , currently employs 47 , 300 people worldwide . last summer the company was the ninth - heaviest steel maker worldwide . the takeover can start a round of merger in the disrupted aluminium business .
Tata group was founded 70 years ago.