Tether plans to grow its shareholding in Adecoagro. This is a South American company that combines agribusiness with energy.
In a statement released on Feb. 18, the stablecoin holder offered to buy all the common shares remaining in the Agribusiness, at a price of $12.41.
If approved, this acquisition would raise Tether’s stake from 19.4% to 51%, making it the dominant shareholder of the agribusiness.
Adecoagro’s Board of Directors said it is proceeding cautiously with the offer.
A meeting took place on February 16th to discuss the proposal. The board decided to consult with legal and financial advisers in order to evaluate its impact.
A final decision will be made after a thorough evaluation to determine its impact on shareholders and the company’s future.
Adecoagro manages farmland on 210.400 acres in Argentina, Brazil, Uruguay and has several industrial plants. Over 2.8 million tonnes of agricultural produce are produced by the company, and it generates over 1 million MWh renewable electricity each year.
Tether’s push for a controlling stake in an agribusiness aligns with its recent strategy of diversifying beyond stablecoins. In the past 12 months, Paolo Ardoino’s firm, led by him, has made significant investments in various fields, including Bitcoin mining and artificial intelligence. It also owns a soccer club.
Meanwhile, the firm’s flagship product, USDT, remains the largest stablecoin, with a market capitalization exceeding $140 billion and controlling around 70% of the industry.
Tether signs MoUs with Guinea
Tether has also signed a strategic agreement with Guinea’s government to support the country’s digital transformation.
The Memorandum of Understanding (MoU) aims to harness blockchain and peer-to-peer technologies to accelerate economic growth and position Guinea as a leader in Africa’s digital economy.
This initiative is centered around education. Tether will work closely with City of Science and Innovation of Guinea to develop programs to improve digital literacy and Blockchain expertise. This effort will equip individuals with the essential skills they need to assist in both public and private sector.
Additionally, the partnership will contribute to Guinea’s Innovation City project. Tether wants to create a hub that will support technology, research and entrepreneurship.
Ardoino said:
“This MoU reflects our commitment to helping countries build resilient digital economies. Together, we aim to implement efficient blockchain solutions that benefit both public and private sectors, paving the way for economic growth and establishing Guinea as a leader in technological innovation.”
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