Overview

• TAFE will hold sole and exclusive rights to the Massey Ferguson brand in India, Nepal and Bhutan under the agreement.
• TAFE will buy back AGCO’s entire 20.7% stake in itself for USD 260 million, making it a wholly owned subsidiary of the Amalgamations Group.
• The Indian firm will retain a 16.3% shareholding in AGCO and vote its shares in support of all board recommendations at shareholder meetings.
• All commercial agreements between TAFE and AGCO will be mutually terminated, with TAFE honouring outstanding supply orders and continuing parts deliveries.
• All ongoing legal proceedings in the Madras High Court will be permanently withdrawn and the settlement becomes effective after Indian regulatory clearances and AGCO’s SEC filing.