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Jaguar, Corus, Tetley: A look at Tata Group's biggest global acquisitions
New Delhi
Tata Motors is reportedly close to finalising a $4.5 billion acquisition of Italian truck manufacturer Iveco from its principal shareholder, the Agnelli family. If completed, the deal would mark Tata Motors' second-largest acquisition to date.
With a presence in over 100 countries, the Tata Group operates 30 companies spanning diverse sectors such as automobiles, consumer products, chemicals, engineering, energy, financial services, materials, IT services, and telecommunications.
In 2000, Tata Tea, now known as Tata Consumer Products, acquired British tea brand Tetley for $450 million, marking one of the first major overseas acquisitions by an Indian business.
Tetley, which holds a leading market position in the United Kingdom and Canada and ranks second in the United States by volume, was the subject of India Inc's largest cross-border acquisition of an international brand at the time. The deal positioned Tata as the world's second-largest tea manufacturer, behind Unilever.
Jaguar Land Rover (2008)
Tata Motors acquired the iconic British marques Jaguar and Land Rover from Ford in 2008 for approximately $2.3 billion, outbidding rivals including Mahindra & Mahindra. The acquisition was seen as a bold and timely move that rescued the financially distressed brands from possible collapse. It is widely regarded as a strategic success that significantly elevated Tata's global profile and brand reputation.
Corus Steel (2007)
Tata Steel expanded its global footprint by acquiring Anglo-Dutch steel giant Corus Group in 2007 for $11.3 billion, becoming one of the world's top ten steel producers. The acquisition was financed primarily through debt and involved a 68 per cent premium over Corus' market valuation, which later imposed a substantial financial burden on Tata Steel.
Daewoo Commercial Vehicles (2004)
In 2004, Tata Motors acquired the truck-manufacturing business of South Korean firm Daewoo Motors for $102 million. Daewoo Commercial Vehicle, spun off from Daewoo Motor in 2002, was the second-largest producer of heavy commercial vehicles in South Korea at the time of acquisition.
The Tata Group regained ownership of Air India in 2022, 69 years after the airline was nationalised. The conglomerate pledged to transform the loss-making carrier into a 'world-class airline'. The transfer of ownership marked the culmination of the Indian government's efforts to privatise the struggling national airline.
In 2021, Tata Group made strategic entries into the fast-growing ecommerce and digital health sectors. Tata Digital acquired a majority stake in online grocery platform BigBasket, followed by a controlling interest in epharmacy 1mg.
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