Adecoagro rises after receiving majority stake offer from crypto firm Tether

Adecoagro

18/02/2025 13:44

** Shares of sustainable production company Adecoagro S.A.
 AGRO.N  rise 8.7% premarket after receiving unsolicited
proposal from Tether Investments 
    ** Tether Investments proposes to increase stake in AGRO to
51% from around 19.4%, AGRO says 
    ** Tether offers to acquire co's common shares at $12.41 per
share, nearly 27% premium to Friday's closing price of $9.79 
    **  Adecoagro produces agricultural products and over 1
million MWh of renewable electricity across facilities in
Argentina, Brazil and Uruguay 
    ** Tether is issuer of USDT stablecoin, world's largest
stablecoin and fourth-biggest crypto currency with market
capitalization of over $141 billion, according to CoinGecko 
    ** Move is latest foray from Tether Investments, which on
Friday said it had become minority shareholder in Italian soccer
club Juventus  JUVE.MI  
    ** AGRO says board of directors met February 16 to discuss
Tether's offer, will respond in due course
    ** Up to Friday's close, AGRO shares up 3.8% YTD after
falling 15% in 2024 

 (Reporting by Lisa Mattackal)
 ((LisaPauline.Mattackal@thomsonreuters.com;))