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AGCO COMPLETES ITS $700 MILLION SALE OF ITS GRAIN & PROTEIN BUSINESS TO AMERICAN INDUSTRY PARTNERS
Source: AGCO news release

DULUTH, Ga. -- AGCO Corporation (NYSE: AGCO), a global leader in the design, manufacture and distribution of agricultural machinery and precision ag technology, has completed the previously announced divestiture of the majority of its Grain & Protein business to American Industrial Partners ("AIP") effective November 1, 2024, in an all-cash transaction valued at approximately $700 million.

"Divesting of Grain & Protein is a significant milestone in AGCO's strategic transformation, accelerated by the PTx Trimble joint venture, which was completed in April 2024," said Eric Hansotia, AGCO's Chairman, President and Chief Executive Officer. "AGCO's portfolio is now focused on award-winning agricultural machinery and precision ag technology products, which underpins a long-term focus on high growth, high margin and significant free cash flow generating businesses."

Proceeds from the sale, net of working capital and other customary closing adjustments, will be used consistent with AGCO's stated capital allocation priorities, including primarily debt repayment, as well as investment in technology and organic growth initiatives and return of capital to shareholders.

Morgan Stanley & Co. LLC and Rabo Securities USA, Inc. acted as financial advisors to AGCO. Simpson Thacher & Bartlett LLP acted as legal advisor to AGCO.

About AGCO

AGCO (NYSE: AGCO) is a global leader in the design, manufacture and distribution of agricultural machinery and precision ag technology. AGCO delivers value to farmers and OEM customers through its differentiated brand portfolio, including leading brands Fendt®, Massey Ferguson®, PTx and Valtra®. AGCO's full line of equipment, smart farming solutions and services helps farmers sustainably feed our world. Founded in 1990 and headquartered in Duluth, Georgia, USA, AGCO had net sales of approximately $14.4 billion in 2023. For more information, visit www.agcocorp.com.


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