Agco (AGCO +2.2%) pays $31M for a 60% stake in Santal Equipamentos, a Brazilian company that...

|About: AGCO Corporation (AGCO)|By:, SA News Editor

Agco (AGCO +2.2%) pays $31M for a 60% stake in Santal Equipamentos, a Brazilian company that makes mechanized sugar-cane harvesters. Sugar-cane harvesters are expected to be hot sellers in Brazil over the coming years, as the government tries to eliminate the practice of burning fields to make the cane easier to cut by hand.