Finance, Tether, Agriculture, South America, Paolo Ardoino AGRO shares jumped over 7% to $11.95 in pre-market buying and selling following the announcement
Tether, issuer of $144 billion greenback stablecoin USDT, has boosted its stake in Latin American agricultural agency Adecoagro (AGRO).
The $12.41 per share supply, which is topic to sure closing circumstances, would take Tether’s stake in Adecoagro from 51% to 70%, according to an announcement on Thursday.
AGRO shares jumped over 7% to $11.95 in pre-market trading following the announcement.
Adecoagro’s enterprise is concentrated on sugar, ethanol, dairy and crop manufacturing Argentina, Brazil, and Uruguay. It owns 210,400 hectares of farmland and several other industrial services throughout these international locations.
The firm has a market cap of slightly below $1.12 billion.
Tether views its Adecoagro’s investment as one in the safe haven of land that enhances its holdings in bitcoin (BTC) and gold.
“Our investment aligns with Tether’s broader strategy to back infrastructure, technology, and businesses that advance economic freedom and resilience,” Tether CEO Paolo Ardoino mentioned in Thursday’s announcement.
Tether can also be growing its publicity to the leisure trade, acquiring a 30.4% stake in Italian media company Be Water for 10 million euros ($10.8 million).
This funding follows Tether’s announcement last month of taking a minority stake in Ardoino’s favorite team Juventus FC, arguably the most important soccer membership in Italy.
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