Tether Increases Stake in Adecoagro to 70% with $12.41 Per Share Offer
Tether has increased its investment in Adecoagro (AGRO), raising its stake from 51% to 70% with a $12.41 per share offer, pending certain closing conditions. Following the announcement, AGRO shares rose over 7% to $11.95 in pre-market trading.
Adecoagro operates in sugar, ethanol, dairy, and crop production across Argentina, Brazil, and Uruguay, managing 210,400 hectares of farmland. The company’s market capitalization is approximately $1.12 billion.
Tether views this investment as a secure asset in land that complements its holdings in Bitcoin and gold. Tether CEO Paolo Ardoino stated the investment aligns with Tether's strategy to support infrastructure and businesses that promote economic resilience.
Additionally, Tether has acquired a 30.4% stake in Italian media company Be Water for €10 million ($10.8 million). This follows last month's minority stake acquisition in Juventus FC.