Simpson Thacher is representing AGCO (NYSE: AGCO) in connection with its entry into a definitive agreement to sell the majority of its Grain & Protein business to American Industrial Partners (“AIP”) in an all-cash transaction valued at $700 million, subject to working capital and other customary closing adjustments. The transaction is subject to customary conditions, including regulatory approvals.
AGCO is a global leader in the design, manufacture and distribution of agricultural machinery and precision agriculture technology. AIP is an industrials investor, with approximately $16 billion in assets under management.
The Simpson Thacher team includes Jakob Rendtorff, Eric Swedenburg, Ben Bodurian, Corinne Belkoff, Fernao Castro and Sebastian Edin (M&A); Drew Purcell, Caroline Phillips, Matthew Lester and Benjamin Bressler (Tax); Lori Lesser, Bryan Jin, Marisa Geiger, Dewey Kang and Chandler Gerard-Reimer (IP); Andrew Blau, Ryan Stott and Sara Mazurek (Executive Compensation and Employee Benefits); Preston Miller, Allison Davido and Lara Fishbane (Antitrust); Mick Tuesley, Claire DiMario, Thomas Lopez and Liam Murray (Foreign Direct Investment); Krista McManus and Dennis Loiacono (Real Estate); Eli Isak and Dennis Durkin (Banking and Credit); and Steven DeLott (Insurance).