Tata Steel Completes £6.2Bn Acquisition Of Corus Group Plc

Tata Steel Ltd has announced that the Company has completed its £6.2 billion (USD12 billion) acquisition of Corus Group plc (Corus) at a price of 608 pence per ordinary share in cash. The enlarged Company will have a pro forma crude steel production of 27 million tonnes in 2007 and will be the worlds fifth largest steel producer with 84,000 employees across four continents.The combination of Tata Steel, a vertically integrated steel producer and one of the worlds most profitable steel Companies, with an established and growing presence in India, South East Asia and the Pacific-rim countries, and Corus, Europes second largest steel producer, with a high value added product range and strong positions in automotive, construction and packaging, will create the worlds second most global steel producer with a combined presence in 45 countries.