TAFE settles AGCO dispute, retains Massey brand rights
Mint New Delhi
|July 02, 2025
The dispute dates back to April 2024, when AGCO terminated a key business agreement with TAFE
Tractors and Farm Equipment Ltd (TAFE) and US-based AGCO Corp. have ended their 15-month-long dispute with a comprehensive settlement announced on Tuesday.
Under the agreement, the Chennai-based tractor maker will pay $260 million to buy back AGCO's 20.7% stake in the company, while retaining exclusive rights to the Massey Ferguson brand in India, Nepal and Bhutan.
TAFE, which also owns 16.3% of AGCO, has agreed to cap its shareholding at the current level and participate in future buyback programmes to maintain its proportionate ownership, subject to certain exceptions. Both companies have also agreed to withdraw all ongoing litigation, TAFE said in a statement.
The two firms will no longer have board representation in each other's companies.
"As we step into a new era in TAFE's growth story, we recognize and cherish the long partnership we've had with AGCO, and continue to support AGCO as an engaged shareholder," said Mallika Srinivasan, chairperson and managing director of TAFE.
This story is from the July 02, 2025 edition of Mint New Delhi.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 10,000+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM Mint New Delhi
Mint New Delhi
Small cities warm up to tasting menus
Chefs are plating gourmet meals in specialised micro-dining spots as small-town India develops a taste for fine dining
4 mins
January 03, 2026
Mint New Delhi
Vishal Kamat
CONSISTENCY KING The executive director of Kamat Hotels on the journey from his grandfather's dishwashing roots to a ₹700-crore empire, and why he does not believe in growth for growth's sake
6 mins
January 03, 2026
Mint New Delhi
In a first, MCX steals a march over NSE on silver, gold rally
Transient surge? Analysts believe that the bullion turnover could moderate, in line with returns, from the highs seen in 2025.
2 mins
January 03, 2026
Mint New Delhi
The real diary is the black box of your life
Unlike social media, which holds curated snippets of the life you want others to think you lead, a good, old paper diary, to be opened by others after you are gone, records the mundane moments that give life meaning
5 mins
January 03, 2026
Mint New Delhi
Russia oil discount doubles for Indian refiners in two months
The lower price of Urals crude will help India’s import bill as oil prices have tumbled about 20% in the past year to around $60 a barrel.
2 mins
January 03, 2026
Mint New Delhi
Mumbai's working life in watercolour
Zainab Tambawalla’s vibrant watercolours capture everyday life, work and exhaustion in Mumbai
4 mins
January 03, 2026
Mint New Delhi
Foxconn, Motherson, Tata lead mobile parts push
According to Meity, Foxconn’s project is expected to create 16,210 new jobs, while Tata's plant will create 1,500 jobs.
1 min
January 03, 2026
Mint New Delhi
Add a punch of flavour with 'sarson'
My gardening hobby has its ebbs and flows.
3 mins
January 03, 2026
Mint New Delhi
Perils pets face at home
Anything from incense to floor cleaner can pose a threat. Here's how to create a safe space for your pet
2 mins
January 03, 2026
Mint New Delhi
India Post to boost e-comm exports
The Centre has expanded India Post's global footprint by adding 50 new nations across Africa, Europe, Central Asia and West Asia to boost e-commerce exports, as it looks to diversify overseas markets for domestic goods hit by steep US tariffs, according to two people aware of the matter.
1 min
January 03, 2026
Listen
Translate
Change font size