Tether, the cryptographic firm behind the USDT stable of $ 140 billion dollars, made a proposal “not requested” to acquire a majority participation in the firm of producers of Agrodeco Latin American agricultural products (AGRO).
Presented on February 14, the offer of $ 12.41 per share was to take Tether’s participation in the company of the current 19.4% to 51%, according to a press release from Adecoagro Tuesday.
The Adecoagro Board met on February 16 to discuss the offer and has involved financial and legal advisors to determine whether to accept the offer aligns with the interests of the shareholders, the company said.
Adecoagro shares increased 8% marketing prior to $ 10.48 in negotiation prior to commercialization in New York.
Adecoagro is an important player in the agribusiness sector of South America, which focuses on sugar, ethanol, dairy and crop production and the operation of Argentina, Brazil and Uruguay.
“Land is a critical class of assets, scarce, which produces long -term and historically a safe refuge during geopolitical uncertainty,” said a Tether spokesman in an email to Coindesk. “Investing in agriculture aligns with our vision of resilience and sustainability, complementing our existing participations in Bitcoin (BTC) and Gold. Adecoagro, with its focus on essential agricultural production, represents an opportunity to support a fundamental industry for the future of the future of the humanity”.
Tether’s investment offer occurs when the company is expanding beyond its central cryptographic business. The Stablecoin issuer said he raised $ 13 billion in net earnings last year.
Read more: the investment of $ 100 million of Tether in the agricultural firm of Latam can be a tokenization play
Update (February 18, 15:43 UTC): Add the Tether spokesman’s statement.
