Jan 31 (Reuters) - India’s Tata Steel is set to become the world’s fifth-biggest steelmaker after winning a bid battle for Anglo-Dutch steelmaker Corus Group by agreeing to pay 6.2 billion pounds.
Following are some major overseas acquisitions by India’s Tata group:
Feb 2000 - Tata Tea Ltd announces it is acquiring British firm Tetley Ltd, which owns the second largest global tea brand, for $432 million (220 million pounds).
Feb 2004 - Tata Motors Ltd, India’s biggest truck maker, signs a deal to buy the commercial vehicle unit of South Korea’s Daewoo Group for $102 million.
May 2004 - Tata Consultancy Services (TCS), India’s largest software firm, acquires Phoenix Global Solutions, a unit of The Phoenix Companies Inc (PNX.N), to tap its expertise in the insurance sector.
Aug 2004 - Tata Iron and Steel Co Ltd makes a huge step overseas with a $286 million purchase of most of Singapore’s lone steel miller, NatSteel Ltd.
Feb 2005 - The board of Tata Motors Ltd. approves the purchase of 21 percent of Spanish bus maker Hispano Carrocera S.A. in a deal worth 12 million euros ($16 million) with an option to acquire a 100 percent holding later.
June 2005 - Tata Coffee Ltd. agrees to buy the U.S.-based Eight O’Clock Coffee Company for $220 million from private equity firm Gryphon Investors.
July 2005 - India’s telecom firm Videsh Sanchar Nigam Ltd. (VSNL), in which the Tata group holds more than 45 percent stake, says it would acquire Teleglobe International Holdings Ltd, a U.S. telecoms network services company for $239 million. VSNL completes the acquisition in February 2006.
July 2005 - VSNL completes the $130 million purchase of Tyco International’s global undersea fibre optic cable network unit.
Oct 2005 - Tata Consultancy Services says it has acquired Sydney-based Financial Network Services (FNS) for $26 million.
Oct 2005 - Tata Tea says it it has signed an agreement to acquire U.S. specialty tea brand Good Earth for an undisclosed sum.
Dec 2005 - Tata Chemicals Ltd. says it has agreed to buy 63.5 percent stake in UK-based soda ash maker Brunner Mond from Wayland Investments Ltd. and Barclays Bank for $113 million.
May 2006 - Tata Tea (GB), a subsidiary of Tata Tea Ltd, signs an agreement to acquire the assets of Jemca, the largest tea company in the Czech Republic from food processing company, Alima Znackova Potravina, for an undisclosed amount. Aug 2006 - Tata Tea announces its plans to buy 30 percent of Energy Brands Inc., maker of fast-growing brand Glaceau vitamin water, for $677 million.
Oct 2006 - Tata Tea acquires a 33 percent stake in Joekels Tea Packers of South Africa for $60 million.
Jan 2007 - Tata Steel wins a bid battle for Anglo-Dutch steelmaker Corus Group by agreeing to pay 6.2 billion pounds.
Sources: Reuters; Tata Group (www.tata.com)