Tether Increases Stake in Adecoagro to 70% with a $1.12B Investment
Tether has raised its share in Adecoagro, enhancing its position in the agricultural sector while also expanding into media.
What to Know:
- Tether, the issuer of the $144 billion stablecoin USDT, has increased its stake in Adecoagro, a Latin American agricultural firm.
- The company offered $12.41 per share, subject to certain closing conditions, boosting its ownership from 51% to 70%.
- Furthermore, Tether is investing in the entertainment sector by acquiring a 30.4% stake in Italian media company Be Water for 10 million euros.
Investment Details
Tether’s investment aligns with its broader strategy to support sectors that promote economic freedom and resilience. Backing infrastructure, technology, and businesses is key to its vision.
AGRO shares witnessed a remarkable 7% increase, reaching $11.95 during pre-market trading following this announcement.
The focus of Adecoagro’s operations includes sugar, ethanol, dairy, and crop production throughout Argentina, Brazil, and Uruguay, managing approximately 210,400 hectares of farmland and various industrial facilities across these locations. The firm is valued just under $1.12 billion.
“Our investment complements our Bitcoin (BTC) and gold holdings and is viewed as a secure investment in land,” stated Tether CEO Paolo Ardoino.
Additionally, Tether’s foray into media includes strategic investments aimed at modern media innovations, indicated by its previous stake in Juventus FC, a major player in European football.
