Trimble forms ag JV with AGCO; receives $2B cash, retains 15% stake

TRIMBLE INC.

Trimble contributes precision ag business (ex-GNSS guidance); AGCO contributes JCA Technologies.
Trimble receives $2B pre-tax cash + 15% stake in JV; AGCO owns 85%.
Total expected value ~$3B from cash, equity, and commercial agreements.
JV targets mixed fleet precision ag market; expected close H1 2024.
FY2023 precision ag rev ~$535M, Adj EBITDA ~$185M; net after-tax proceeds >$1.5B.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

TRIMBLE INC. entered into Sale and Contribution Agreement with AGCO Corporation valued at $2,000,000,000 in cash (effective 2023-09-28).

Action: entry
Agreement: asset purchase
Counterparty: AGCO Corporation
Value: $2,000,000,000 in cash
Effective: 2023-09-28

Exact text from the filing

Trimble Inc., a Delaware corporation (“ Trimble ”), entered into a Sale and Contribution Agreement (the “ Sale and Contribution Agreement ”) with AGCO Corporation, a Delaware corporation (“ AGCO ”), and Trimble Solutions, LLC, a Delaware limited liability company (the “ JV ”), which provides for the formation of a joint venture

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273 material agreements filed in the last 30 days. Browse all material agreements →

TRIMBLE INC. filing history →

Source: SEC EDGAR

accession 0001193125-23-244709

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