AGCO Power Core80 Engine Wins Diesel Engine of the Year
AGCO Power, part of the AGCO corporation, has won Diesel Engine of the Year with its Core80 Engine.
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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