Tether, the crypto company behind the USDT $ 140 billion stable, made an “unsolicited” proposal to acquire majority participation in the firm producing agricultural basic products from Latin America Agrodeco (Agro).
According to a press release from Tether in the company from 19.4% to 51%, the offer of $ 12.41 per share was to provide Tether’s participation in the company from 19.4% to 51%.
The AdoCoagro board of directors met on February 16 to discuss the offer and initiated financial and legal advisers to determine whether the acceptance of the offer aligns with the interests of shareholders, said Society.
ADECOAGRO shares jumped 8% before the market at $ 10.48 in exchange for pre-commercial in New York.
ADECOAGRO is a major player in the agrifood sector of South America focused on sugar, ethanol, dairy products and the production of cultures and operating through Argentina, Brazil and Uruguay.
“Earth is an essential, rare asset class producing long-term yields and historically a safe refuge during geopolitical uncertainty,” said a spokesperson in an email in Coindesk. “Investing in agriculture is aligned with our vision of resilience and sustainability, supplementing our existing assets in Bitcoin (BTC) and Gold. Adecoagro, with its emphasis on essential agricultural production, represents an opportunity to support an industry fundamental to the future of humanity. “
Tether’s investment offer comes as the company extends beyond its basic crypto business. The Stablecoin transmitter said that he had raised $ 13 billion in net profits last year.
Read more: the investment of $ 100 million from Tether in the Latam Agricultural Society can be a tokenization game
Update (February 18 3:43 PM UTC): Add the declaration of the Tether spokesperson.
