07:32 AM EDT, 07/01/2025 (MT Newswires) -- AGCO ( AGCO ) and Tractors and Farm Equipment Limited said Tuesday they have reached a comprehensive settlement resolving all outstanding disputes related to brand ownership, commercial issues and shareholding.

Under the agreement, TAFE will take exclusive ownership of the Massey Ferguson brand in India, Nepal and Bhutan, the companies said.

Also as part of the deal, TAFE will repurchase AGCO's ( AGCO ) 20.7% equity stake in TAFE for $260 million, subject to regulatory approvals in India, TAFE said.

TAFE will retain its 16.3% ownership in AGCO ( AGCO ) and participate in future share repurchase programs without exceeding its current stake, the companies said.

All ongoing legal proceedings will be terminated by both companies and the new agreement will be effective after completion of governmental processes in India, said the companies.