TAFE Resolves Corporate Feud with AGCO through USD 260 Million Buyout

Tractors and Farm Equipment Ltd (TAFE) and AGCO Corporation announced on Tuesday a significant settlement, putting to rest all extant legal and commercial disputes. The resolution involves TAFE purchasing AGCO's shareholding for USD 260 million, effectively ending a prolonged corporate feud.

This settlement provides TAFE with exclusive ownership of the Massey Ferguson brand in India, Nepal, and Bhutan, consolidating its market position. With this agreement, TAFE will become a wholly-owned subsidiary of the Amalgamations Group while maintaining a 16.3% stake in AGCO.

Both companies have agreed to cooperate on various matters, including voting shares in line with AGCO's board recommendations. The agreement follows a period of litigation, marking a return to collaborative ties focused on mutual growth.

(With inputs from agencies.)