AGCO CORP /DE (AGCO): M&A transaction — AGCO completes $700M divestiture of Grain & Protein business to American Industrial Partners

AGCO CORP /DE

All-cash transaction valued at ~$700M closed November 1, 2024.
Divested brands include GSI, Automated Production, Cumberland, Cimbria, and Tecno.
Net proceeds will be used primarily for debt repayment, technology investment, and shareholder returns.
Divestiture follows PTx Trimble JV; AGCO now focused on ag machinery and precision ag technology.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

AGCO CORP /DE completed a disposition involving American Industrial Partners, through its affiliate A-AG Holdco Limited for $700 million (closed 2024-11-01).

Action: disposition
Counterparty: American Industrial Partners, through its affiliate A-AG Holdco Limited
Consideration: $700 million
Closing: 2024-11-01

Exact text from the filing

On November 1, 2024, AGCO Corporation (“AGCO” or the "Company") and its wholly-owned subsidiary Massey Ferguson Corp. completed the previously announced sale (the “Divestiture”) of AGCO’s Grain & Protein business, which includes the GSI®, Automated Production® (AP), Cumberland®, Cimbria® and Tecno® brands, to A-AG Holdco Limited, an affiliate of American Industrial Partners, pursuant to a Stock and Asset Purchase Agreement (the “Purchase Agreement”) entered into on July 25, 2024, for a purchase price of $700 million, subject to customary working capital and other adjustments.

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AGCO CORP /DE filing history →

Source: SEC EDGAR

accession 0000880266-24-000054

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