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'Corus: A landmark win for India'
January 31, 2007
After a much-deliberated wait, Tata Steel has finally won Corus. At the end of nine rounds of bidding at 608 pence per share, Tata was one-up on Brazilian player CSN. Arun Gandhi the director of Tata Sons was a key player in clinching the deal.
He is one of India's leading chartered accountants and has managed to maintain a low profile for almost four decades. An expert in auditing, taxation and due diligence, Gandhi is better known for his valuation and negotiation skills, making him the best bet that the Tata Group could have against CSN.
Industry experts reveal that he is India's master negotiator because of his ability to structure complicated deals in the most cost-effective manner.
On this special occasion for the company, Arun Gandhi says this is a landmark win for an Indian company. He says that the Corus management is delighted with the deal. He says this is a further step in the global endeavours of the Tata Group.
Excerpts from CNBC-TV18's exclusive interview with Arun Gandhi:
What is the mood among the Directors of Tata Sons?
We are all excited and happy - it has been a long affair over nine months.
Has the feeling sunk in or are you too dazed?
Tired yes, the last three days have been hard work, but I am still in meetings here to do things which I need to.
By the ninth round was the tension absolutely palpable in the room?
There were tensions, but I had taken my views and I got all the support from my seniors in Mumbai and all along I was able to steer the way and I had all the support.
How is the Corus management feeling about the deal?
I got a call from the Corus Management and they are delighted and happy that we have won.
Did you meet the CSN management after the deal and shake hands cordially or was the spirit different?There was no opportunity to meet anyone as we were in different offices and the bidding was done through sending emails.
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