Practice areas:

Corporate/M&A, employee incentives, employment, environment, EU/competition, finance, pensions, tax

Sector:

Manufacturing
Offices: Amsterdam (Stibbe), Hong Kong, London, Singapore, Tokyo
Value: £6.2 billion

Project in brief:

From October 2006 to January 2007, Tata Steel and Brazilian rival CSN were locked in a takeover battle for the Anglo-Dutch steelmaker, Corus. Tata clinched the deal with its £6.2 billion bid in an online auction in the early hours of 31 January 2007.

Issues:

The deal involved a combination of massive scale, global profile and high complexity.

Tata Steel was already India’s largest private sector steel company, and Corus was Europe’s second largest steel producer. The deal made Tata Steel the world’s sixth largest steel group. It also represented the largest ever outward investment by an Indian company, and confirmed Indian corporations’ new position as major global players.