Tether, a $ 144 billion issuer in USDT, has increased its participation in the Latin American agricultural firm Adecoagro (Agro).
The offer of $ 12.41 per share, which is subject to certain closing conditions, would take the participation of Tether in Adecoagro from 51% to 70%, according to an announcement on Thursday.
Agro shares increased more than 7% to $ 11.95 in the previous negotiation after the announcement.
The Adecoagro business focuses on the production of sugar, ethanol, dairy and crops Argentina, Brazil and Uruguay. It has 210,400 hectares of farmland and several industrial facilities in these countries.
The company has a market capitalization of just under $ 1.12 billion.
Tether sees his adoagro’s investment as one in the Land Seguro Refuge that complements his participations in Bitcoin (BTC) and gold.
“Our investment is aligned with the broader strategy of Tether to support infrastructure, technology and companies that advance freedom and economic resilience,” said the CEO of Tether, Paolo Ardoino, in Thursday’s announcement.
Tether is also increasing its exposure to the entertainment industry, acquiring a 30.4% participation in the Italian media company Be Water for 10 million euros ($ 10.8 million).
This investment follows Tether’s announcement last month to take a minority participation in the favorite team of Ardoino Juventus FC, possibly the largest football club in Italy.
