AGCO has completed the sale of its ownership stake in India-based Tractors and Farm Equipment Limited for $260 million. The two companies have been in a dispute over the rights to the Massey-Ferguson brand. TAFE now takes ownership of the Massey Ferguson brand in India, Nepal and Bhutan. AGCO acquired Massey Ferguson in 1994 and maintains global ownership of the brand in all other countries. TAFE is AGCO’s largest shareholder with an ownership level of 16.3 percent. Under this agreement, TAFE retains the right to maintain ownership at that level but cannot exceed it.
