Tafe, Agco Corp likely to settle tractor brand battle outside court

Tafe has given up directorship in Agco as part of deal

The battle between tractor giants Tractors and Farm Equipment (Tafe) and the US-based Agco Corporation over the ownership of the Massey Ferguson brand in India is likely to be resolved through an out-of-court settlement soon. 

Multiple sources indicate that both parties are close to sealing a deal, and it is expected within a month. As part of the settlement, Tafe — which already holds a 16 per cent stake in Agco — has given up its directorship in the company. 

Tafe Chairman and Managing Director Mallika Srinivasan previously served on Agco’s board. Agco did not respond to questions from Business