AGCO and TAFE conclude commercial partnership with $260m share buyback

Key terms mean all commercial agreements will cease, with agreed wind-down provisions.

Ownership of the “MF” brand will rest with TAFE on an exclusive basis in India, Nepal and Bhutan.

In addition, TAFE has agreed to participate in future share repurchase programs that AGCO executes but retains the right to maintain but not exceed its current ownership level of 16.3%.

TAFE will no longer be entitled to nominate a representative to the AGCO board of directors and AGCO’s director on TAFE’s board will step down.

TAFE will also repurchase AGCO’s current shareholding in TAFE for an aggregate amount of $260m.

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