AGCO Corporation acquires Laverda S.p.A. (remaining 50%)

AGCO Corporation acquired Laverda S.p.A. (remaining 50%) for EUR 65 million.

AGCO agreed to purchase the remaining 50% of Laverda S.p.A. from Italian partner ARGO S.p.A., taking full ownership of the combine and harvesting-equipment operation it had previously held as a joint venture. The purchase price was approximately EUR 65 million and the deal was expected to close in December 2010.

Buying out its ARGO joint-venture partner gave AGCO 100% control of the Laverda combine business, letting it fully integrate harvesting technology and production into its own portfolio rather than sharing it.

Advisory firms were not disclosed for this transaction.

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