Tether, the crypto firm behind the $ 140 billion dollar USDT Stablecoin, has made an “unsolicited” proposal to obtain a predominantly stake in the Latin American agricultural manufacturer of Commodities firm Agrodeco (Agro).
Submitted on February 14, the $ 12.41 per sharing offer is to bring to Tether’s stake to the company from the current 19.4% to 51%, according to A Tuesday press release By Adecoagro.
The Adecoagro board met in February. 16 to discuss the bid and contact the financial and legal counselor to determine if the receiving offers aligned with the interests of shareholders, the company said.
Adecoagro’s sharing jumped an 8% premarket at $ 10.48 in Premarket Trading in New York.
Adecoagro is a major player in the South American Agribusiness sector focused on sugar, ethanol, dairy, and produce and operations throughout Argentina, Brazil, and Uruguay.
Tether’s investment offer arrives as the company expands beyond the main crypto business. Stablecoin’s release that it raised for $ 13 billion in net revenue last year.
Read more: Tether’s $ 100m investment in Latam Agriculture Firm can be a playing tokenization
