Gleiss Lutz has advised AGCO Corporation, a global leader in the design, manufacture and distribution of agricultural machinery and precision agriculture technology, on German law aspects in connection with the formation of a joint venture with Trimble.
Under the terms of the joint venture, AGCO will acquire an 85% interest in Trimble's portfolio of agricultural technologies for a payment of USD 2 billion and contribute its interest in JCA Technologies to the joint venture. The transaction is expected to close in the first half of 2024 and is subject to customary conditions, including regulatory approvals.
The transformative transaction creates an industry leading global mixed-fleet Precision Ag platform and enhances AGCO's comprehensive technology offering around guidance, autonomy, precision spraying, connected farming, data management and sustainability.
Trimble's Agriculture business provides hardware, software solutions and cloud-based applications across the agricultural supply chain, from tillage to seeding to harvest. JCA Technologies is a leader in autonomous agricultural machine systems.
The following Gleiss Lutz team led by Dr. Ralf Morshäuser (partner) advised AGCO:
Dr. Tobias Falkner (counsel), Dr. Moritz Lochmann (all M&A, all Munich), Dr. Jacob von Andreae (partner), Aylin Hoffs (both Foreign Direct Investment, both Düsseldorf), Dr. Jens Günther (partner, Munich), Dr. Frank Merten (counsel, Stuttgart), Mark Gerigk (all Employment, Munich), Dr. Tim Weber (partner), Konrad Discher (counsel), Michael Clever (all Real Estate, all Frankfurt), Dr. Matthias Werner (counsel, Munich), Dr. Christopher Noll (both IP, Stuttgart).
Simpson Thacher & Bartlett LLP acted as lead counsel.