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Tatas - the takeover titans

New Delhi, Oct 20 (IANS) The $8 billion bid by the Tatas to acquire Anglo-Dutch steel maker Corus is the latest in a series of overseas acquisitions worth some $2 billion made by one of India's top business houses in recent years.

Friday, October 20, 2006 | 3:34:41 PM IST (+05:30 GMT)
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New Delhi, Oct 20 (IANS) The $8 billion bid by the Tatas to acquire Anglo-Dutch steel maker Corus is the latest in a series of overseas acquisitions worth some $2 billion made by one of India's top business houses in recent years.

And going by what senior executives of Tata Sons - the holding arm of the $21.9 billion group that has 28 listed companies - maintain, the appetite for mergers and acquisitions is growing with each deal that is struck by the group abroad.

Tata Steel, among the 96 companies in the group's stable, has itself made two major acquisitions worth $421 million over the past two years.

'A journey that began long ago is gathering pace,' says chairman Ratan Tata on the overseas foray of the group that has interests in consumer goods, chemicals, energy, services, engineering, materials and IT systems and communications.

'From information technology and tea to automobiles and steel, Tata companies are spreading their wings to find a place in the global sun,' he says.

Here's a look at some of the notable acquisitions by the Tata group companies overseas in the past few years:

Tata Steel:

The company wants to boost its annual output of 8.7 million tonnes to 15 million tonnes by 2010, and take it upwards to 30 million tonnes by 2030. 'More stunning moves on the mergers and acquisition front can definitely be expected,' it says.

In February 2005, it acquired Singapore's NatSteel, that also has a presence has a presence in Thailand, China, Malaysia, Vietnam, the Philippines and Australia, followed by the acquisition of Thailand's Millennium Steel for a $421 million.

Tata Motors:

South Korea's Daewoo Commercial Vehicle Co was acquired by the company in March 2004 for $102 million and gained, in the process, a market share of 30 percent and access to markets where it had no prior presence.

This was followed by the acquisition of a 21 percent stake in Spanish bus maker Hispano Carrocera for $18 million with an option to pick up the remaining stake at a later date. This helped the company get technology to make top-end busses.

Another company in the fold - Tata Technologies - which provides automotive engineering and design services - bought Britain's Incat International for $53 million.

Tata Consultancy Services:

This company, which was earlier a division of Tata Sons, has been among the most aggressive shoppers for companies overseas. It has acquired six companies in recent months, though the net value of the deals is no more than $100 million.

In the second half of 2005, following the merger of group company Tata Infotech into its fold, TCS acquired financial services company FNS of Australia for $26 million and then Chile's outsourcing major Comicrom for $23 million.

TCS, which has 160 offices in 30 countries, also entered into a structured deal with the British insurance major, the Pearl Group, which essentially called for the two entities to set up a subsidiary with TCS as the majority partner.

Videsh Sanchar Nigam Ltd:

The Tata group acquired the former state-run, international telecom carrier a few years ago. The company has made several overseas acquis

Copyright : Indo-Asian News Service
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