Agco (AGCO) has issued an announcement.
Breaking ties with a major partner, the Company announced the end of its commercial dealings with Tractors and Farm Equipment Limited (TAFE) on April 26, 2024. This severance includes the termination of substantial trade, where the Company had bought over $171 million in tractors and components from TAFE, alongside selling parts to them and licensing the Massey Ferguson brand for use in India. Despite the split, both entities’ cross-shareholdings—21% held by the Company in TAFE and 16% held by TAFE in the Company—remain unaffected.
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