'AGCO, TAFE Reach Settlement After Close Collaboration With Sudarshan Venu': AGCO CEO
'This outcome was made possible with close collaboration with Sudarshan Venu, son of TAFE's chairman and MD,' says AGCO CEO Eric P Hansotia during Q2 2025 earnings call.
AGCO Corporation Chairman and CEO Eric P Hansotia has acknowledged the key role played by TVS Motor Company Chairman Sudarshan Venu in reaching a comprehensive resolution with Chennai-based tractor manufacturer TAFE (Tractors and Farm Equipment Limited), bringing an end to a long-running dispute over shareholding and brand rights.
Speaking during AGCO's Q2 2024 earnings call, Hansotia confirmed that the US-based agriculture machinery giant had finalised an agreement with TAFE, under which AGCO will exit its 20.7 per cent shareholding in TAFE for a consideration of $260 million. The move makes TAFE a fully owned subsidiary of the Chennai-based Amalgamations Group, a diversified industrial conglomerate.
'Turning to a couple of AGCO-specific items, we recently announced the resolution with TAFE on all outstanding commercial, governance and shareholding matters. This outcome was made possible with close collaboration with Sudarshan Venu, son of TAFE's chairman and managing director," Hansotia said during the Q2 2025 earnings call on July 31, 2025.
The company follows January-December fiscal year.
The agreement also grants TAFE sole and exclusive ownership of the Massey Ferguson brand in India, Nepal, and Bhutan. As per a statement released by TAFE in July, the settlement includes full rights, title, and interest in the Massey Ferguson brand and associated trademarks, along with all goodwill linked to them.
This marks the end of a long-standing partnership between the two agricultural equipment giants, which had begun to show signs of strain in late 2024. The dispute came to a head in September when AGCO announced it was terminating its agreements with TAFE, including the licensing of the Massey Ferguson brand. TAFE responded by filing a contempt petition, alleging that AGCO's actions violated earlier court directives and were executed without proper legal notice.
The resolution now paves the way for both companies to pursue independent strategies in the Indian subcontinent, one of the world's largest tractor markets. For TAFE, the settlement secures full control over one of its flagship brands in key geographies and allows it to move forward with brand and product development without external restrictions.
For AGCO, the divestment aligns with its global portfolio strategy and eliminates governance complexities stemming from minority shareholding in a former joint venture.
The agreement is also being viewed as a reflection of Sudarshan Venu's growing influence in resolving high-stakes corporate matters. While he currently leads TVS Motor, a separate entity from TAFE, his involvement in the settlement underscores the close familial and corporate ties within the broader business group and highlights his role in facilitating constructive dialogue between the parties.
With the dispute now resolved, both companies are expected to focus on growth and innovation in a rapidly evolving global agri-machinery market.
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