AGCO terminates commercial agreements with TAFE; 2023 purchases were $171.6M

AGCO CORP /DE

AGCO gave notice to TAFE on April 26, 2024, ending commercial relationships.
In 2023, AGCO purchased ~$171.6M in tractors and components from TAFE and sold ~$3.6M in parts to TAFE.
AGCO licenses the Massey Ferguson tradename to TAFE for use in India and certain other countries.
AGCO owns ~21% of TAFE; TAFE and affiliates own ~16% of AGCO; these ownership stakes and related agreements are unchanged.
The termination impacts a significant supply and licensing arrangement but not the cross-shareholdings.

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