TAFE Secures Sole Ownership of Massey Ferguson in Strategic Deal with AGCO

TAFE, a leading tractor manufacturer, has finalized a comprehensive settlement with AGCO, securing exclusive rights to the Massey Ferguson brand in India, Nepal, and Bhutan. TAFE will buy back AGCO's shares, becoming a wholly owned subsidiary of the Amalgamations Group, while remaining a long-term investor in AGCO.

TAFE, one of the world's premier tractor manufacturers, has announced a landmark settlement with AGCO, which includes acquiring exclusive rights to the Massey Ferguson brand across India, Nepal, and Bhutan.

The agreement, detailed today, involves TAFE purchasing AGCO's 20.7% equity stake for $260 million, thus making TAFE a wholly owned subsidiary of India's Amalgamations Group.

Additionally, TAFE will maintain a 16.3% shareholding in AGCO and continue as a long-term investor, while fulfilling remaining supply orders and resolving ongoing legal battles.