Shardul Amarchand Mangaldas & Co. Advised AGCO Group On Overall Global Settlement With TAFE, Including Securing A USD 260 Million Exit From TAFE
Shardul Amarchand Mangaldas & Co. advised AGCO Group on Overall Global Settlement with TAFE, Including Securing a USD 260 Million Exit from TAFE
The leading full-service Indian law firm, Shardul Amarchand Mangaldas & Co. (SAM), acted as legal counsel to its long-standing client, the AGCO Group, in connection with the comprehensive settlement of all outstanding disputes and matters arising from its long-standing commercial relationship with Tractors and Farm Equipment Limited (“TAFE”).
The various settlement agreements also paved the way for the AGCO Group’s exit of its historic shareholding of 65 years in TAFE for an aggregate consideration of USD 260 million, completed on 30 September 2025.
The settlement involved advising AGCO on a suite of documents, including exit agreements, intellectual property agreements relating to the rights to the ‘Massey Ferguson’ brand, and various other litigation and arbitration settlement agreements. This followed complex cross litigation and arbitration actions between AGCO and TAFE, spanning over a year across multiple fora in India (Supreme Court, Madras High Court, Egmore Commercial Court, etc.) and overseas (ICC arbitrations seated in London).
The Shardul Amarchand Mangaldas & Co. transaction workstream, advising on overall strategy, settlement implementation, and the AGCO exit, was led by Mithun V. Thanks (Partner), Pooja Singhania (Partner), Mukul Baveja (Partner), Shreya Gupta (Partner), and Bikram Chaudhri (Partner), and assisted by Alysha Razvi (Principal Associate), Doorva Tripathi (Senior Associate), Jehan Jhaveri (Associate), Prachi Gupta (Associate), Keyur Jaju (Associate), and Ananya Saria (Associate).
The Shardul Amarchand Mangaldas & Co. dispute resolution workstream was led by Mithun V. Thanks (Partner), Shreya Gupta (Partner), Bikram Chaudhri (Partner), Mukul Baveja (Partner), Allwin Godwin (Partner), and Manu Nair (Partner), and assisted by Pratik Singhvi (Principal Associate), Abhijeet Sadikale (Principal Associate), Akhila J. (Principal Associate), Madhur Chopra (Principal Associate), Neelabh Shreesh (Principal Associate), Prakriti Sharma (Senior Associate), Prachi Gupta (Associate), Niranjana Pandian (Associate), Sushain Sobti (Associate), Barathwaz T. (Associate), and Keyur Jaju (Associate).
Herbert Smith Freehills Kramer LLP, Sullivan & Cromwell LLP, and Troutman Pepper Locke advised AGCO on foreign law aspects of the settlement.
Herbert Smith Freehills Kramer LLP also advised on the ICC arbitrations seated in London.
Deloitte Touche Tohmatsu India LLP advised AGCO on tax-related aspects.
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