AGCO completes deal with TAFE
AGCO Corporation completed its sale to Tractors and Farm Equipment Limited (TAFE) in India of AGCO’s ownership interest in TAFE for an aggregate amount of $260 million, with after-tax proceeds from the sale totaling approximately $230 million. AGCO and tractor manufacturer Tractors and Farm Equipment (TAFE) have been into a long-lasting commercial relationship. Last year […]
AGCO Corporation completed its sale to Tractors and Farm Equipment Limited (TAFE) in India of AGCO’s ownership interest in TAFE for an aggregate amount of $260 million, with after-tax proceeds from the sale totaling approximately $230 million.
AGCO and tractor manufacturer Tractors and Farm Equipment (TAFE) have been into a long-lasting commercial relationship. Last year however, AGCO opened its own subsidiary in India, deciding TAFE to go into litigation with AGCO. This referred to the production and sale of the Massey Ferguson brand in India and other parts of Asia.
Eventually both parties resolved the matter and came to an agreement, which has now been completed.
As part of the sale process, the substantive provisions of several previously disclosed agreements AGCO entered into with TAFE on June 30, 2025, became effective, and the Letter Agreement between AGCO and TAFE dated April 24, 2019, as most recently amended on July 7, 2025, expired.
