Tether, giving a $ 144 billion dollar Stablecoin USDT, strengthened its stake with the Latin American agricultural firm Adecoagro (Agro).
$ 12.41 per sharing offer, subject to certain closure conditions, will take Tether’s stake to Adecoagro from 51% to 70%, According to an announcement on Thursday.
Sharing of Agro Jump more than 7% to $ 11.95 in pre-market trading Following the announcement.
Adecoagro’s business focuses on sugar, ethanol, dairy and produce of Argentina, Brazil, and Uruguay. It has 210,400 hectares of farm and some industrial facilities in these countries.
The company has a market cap of just under $ 1.12 billion.
Tether looks at Adecoagro’s investment as one of the safe shelter of land That fits its holdings in Bitcoin (BTC) and gold.
“Our investment is aligned with Tether’s broader approach to backing up infrastructure, technology, and businesses that advance freedom and economic resilience,” Tether CEO Paolo Ardoino said in a Thursday announcement.
Tether also increases its exposure to the recreation industry, Taking a 30.4% stake with Italian media company become water for 10 million euros ($ 10.8 million).
This investment is following Tether’s announcement last month of getting a minority stake At Ardoino’s Favorite team Juventus FC, may be the largest soccer club in Italy.
