Summary
Tether recently submitted an unsolicited offer aimed at securing a majority stake in Adecoagro, a prominent Latin American agribusiness player. The details of the unsolicited bid are as follows:
- The offer was made for $12.41 per share.
- This acquisition would increase Tether’s stake from 19.4% to 51%.
- As of the latest results, Adecoagro’s shares increased 8%, trading at $10.48.
- The board of Adecoagro is currently evaluating the offer with the help of financial and legal advisors.
Details
Tether, the firm behind the significant USDT stablecoin, aims to expand its portfolio beyond digital currencies. According to a February 14 press release by Adecoagro, the major player is involved in sugar, ethanol, dairy, and crop production across Argentina, Brazil, and Uruguay.
A spokesperson from Tether stated:
“Land is a critical asset class, scarce, yielding long-term returns, and historically a safe haven during geopolitical uncertainty. Investing in agriculture aligns with our vision of resilience and sustainability.”
Translation: Land is considered a scarce resource that yields long-term benefits and is often regarded as a safe investment during times of global instability. Investing in agriculture fits Tether’s focus on sustainable and resilient assets.
As Tether diversifies its investments, having reported a net profit of $13 billion last year, this bid highlights the company’s ambition to integrate more traditional assets into its financial portfolio.
