Tata Steel acquires 21.1-per cent stake in Corus for $2.4 billion

01 February 2007

Mumbai: After bagging Corus, Tata Steel has acquired a 21.1-per cent stake in Europe''s second largest steel maker for about $2.4 billion dollars at 608 pence a share.

The 199 million shares were acquired at the final offer price yesterday by Tata Steel UK Ltd, the wholly owned Tat Steel subsidiary that acquired Corus.

After winning the nine-round auction for Corus, the company had said it intended to acquire shares from the market at a price of up to 608 pence in cash.

It had asked all Corus shareholders wishing to sell their shares to Tata Steel to contact its corporate brokers at ABN Amro Hoare Govett and Deutsche Bank.