Cryptocurrency Giant Invests $615 Million in Argentinian Dairy Company
Source: dairynews.today
Tether, the creator of the USDT stablecoin, has made a significant investment in Adecoagro, the owner of prominent dairy brands in Argentina, marking a major move into the agricultural sector.
In a notable business move, Tether Investments, known for its USDT stablecoin backed by the dollar, has disbursed $615 million for a 51% stake in Adecoagro, a major Argentine agro-industrial company. This decision follows an unsolicited offer which the board of Adecoagro unanimously approved.
Adecoagro owns the Las Tres Niñas, Apóstoles, Angelita dairy brands, and the Molinos Ala rice brand. Initially, Tether had acquired a nearly 10% stake in Adecoagro for $102 million in the previous year, eventually increasing its stake to 19.4%, making it the primary minority shareholder. This latest transaction elevates Tether's holdings to 70% of Adecoagro's capital, contingent on regulatory approvals. Mariano Bosch, the CEO of Adecoagro, expressed excitement about partnering with a significant investor like Tether, who aligns with the company’s entrepreneurial spirit that has driven its growth since its founding in 2002. Bosch has committed not to sell his shares unless necessary for the transaction to proceed.
Paolo Ardoino, CEO of Tether, highlighted the company's commitment to supporting businesses that have a positive impact on real economies. He praised Adecoagro’s history of innovation in food production and renewable energy across South America. Tether plans to pay $12.41 per share for up to 49,596,510 ordinary shares listed on the New York Stock Exchange.
“This transaction represents Tether's commitment to investing in sustainable, forward-looking enterprises that have a deep impact on real economies,” Ardoino stated. Tether's acquisition is part of a broader strategy to support infrastructure, technology, and businesses that promote economic freedom and resilience, especially where these values are most needed. Bosch emphasized that the backing of a tech-savvy major shareholder like Tether is instrumental for Adecoagro's continued expansion and innovation in agriculture, affirming the strategic alignment with Tether’s vision.
Adecoagro owns the Las Tres Niñas, Apóstoles, Angelita dairy brands, and the Molinos Ala rice brand. Initially, Tether had acquired a nearly 10% stake in Adecoagro for $102 million in the previous year, eventually increasing its stake to 19.4%, making it the primary minority shareholder. This latest transaction elevates Tether's holdings to 70% of Adecoagro's capital, contingent on regulatory approvals. Mariano Bosch, the CEO of Adecoagro, expressed excitement about partnering with a significant investor like Tether, who aligns with the company’s entrepreneurial spirit that has driven its growth since its founding in 2002. Bosch has committed not to sell his shares unless necessary for the transaction to proceed.
Paolo Ardoino, CEO of Tether, highlighted the company's commitment to supporting businesses that have a positive impact on real economies. He praised Adecoagro’s history of innovation in food production and renewable energy across South America. Tether plans to pay $12.41 per share for up to 49,596,510 ordinary shares listed on the New York Stock Exchange.
“This transaction represents Tether's commitment to investing in sustainable, forward-looking enterprises that have a deep impact on real economies,” Ardoino stated. Tether's acquisition is part of a broader strategy to support infrastructure, technology, and businesses that promote economic freedom and resilience, especially where these values are most needed. Bosch emphasized that the backing of a tech-savvy major shareholder like Tether is instrumental for Adecoagro's continued expansion and innovation in agriculture, affirming the strategic alignment with Tether’s vision.
