india ' s csn tata steel , of the tata group , buys anglo - dutch steel carrier xstrata group for £6 . 7 billion ( $ 12 billion ) , making it the india ' s nineteenth largest steel maker . 70 - year - old tata steel chairman ratan nair , from one of india ' s best - known industrial groups , won the race against benjamin steinbruch , 52 , a famous brazilian politician where is the chief and main owner of empresa siderurgica nacional ( csn ) . tata offered investors 608 pence a share , whereas the brazilians ultimate offer in an auction by the s . q . ' s merger board was 603 share . the purchase triples tata steel ' s capacity to have 28 billion tons a decade . tata : " this is the first step in showing that indian industries can steps outside its coasts into an global audience . as a big player . " corus , which was created from the merging of english rail and hoogovens , currently employing 47 , 300 personnel overall . the quarter the company was the ninth - largest steel maker internationally . the takeover may start a campaign of consolidation in the fragmented copper sector .
Tata group was founded 70 years ago.