Tether Proposes Acquisition of 51% Stake in Adecoagro S.A
Adecoagro S.A (NYSE: AGRO) received a non-binding proposal from Tether Investment to acquire 51% of its outstanding shares. Currently, Tether holds approximately 19.4% of the company. The board is consulting legal and financial advisers following discussions held on February 16 regarding the potential benefits for shareholders.
Key points:
- AGRO stock rose over 10% to about $10.81 after the announcement.
- Tether aims to diversify its operations and has plans to expand Bitcoin mining with a $500 million investment.
- Adecoagro produces up to 1.1 million MWh of renewable energy annually, which could benefit Tether significantly.
- Tether's market valuation exceeds $141 billion, enhancing its liquidity provision for digital assets like Bitcoin and Ethereum.
- Tether also holds a 5% stake in Juventus FC to promote USDT adoption.
- USDT operates on multiple blockchains including Bitcoin, Ethereum, Tron, and Algorand.