Adecoagro S.A., a leading sustainable production company in South America, has entered into a transaction agreement with Tether.
In technicality, the agreement is with Tether Investments S.A. de C.V., part of the Tether Group, which includes the issuer of USDT (USDT), the world’s largest stablecoin.
Under this agreement, Tether will initiate a tender offer to acquire up to 49,596,510 common shares of Adecoagro at $12.41 per share, aiming to increase its ownership to approximately 70% of the company’s outstanding shares.
The offer’s completion is contingent upon certain conditions, including achieving at least 51% ownership on a fully diluted basis.
Tether wants to support Adecoagro’s mission to produce food and renewable energy efficiently and sustainably across Argentina, Brazil, and Uruguay.
The transaction is expected to provide Adecoagro with the financial backing to pursue ambitious growth plans and further its commitment to sustainability and innovation in the agro-industrial sector.
Tether’s unsolicited proposal
In February, Tether submitted an unsolicited, non-binding proposal to acquire a 51% stake in Adecoagro through a tender offer at $12.41 per share. At the time, Tether already held approximately 19.4% of Adecoagro’s outstanding shares.
The proposal was submitted on February 14, 2025. Two days later, Adecoagro’s board met and decided to engage legal and financial advisors to evaluate the offer.
Farming and energy production
Adecoagro operates across Argentina, Brazil, and Uruguay, engaging in farming, land transformation, and sugar, ethanol, and energy production.
The company manages 210,400 hectares of farmland and multiple industrial facilities, producing over 2.8 million tons of agricultural products and generating over 1 million MWh of renewable electricity annually.
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