Tether, issuer of $ 144 billion stableecoin USDT, has increased its share in the Latin American Agricultural Company Adecoagro (Agro).
The offer of $ 12.41 per
Agro shares jumped over 7% to $ 11.95 in trading before the market after the message.
Adecoagros business is focused on sugar, ethanol, dairy and crop production Argentina, Brazil and Uruguay. It owns 210,400 ha of agricultural land and several industrial facilities in these countries.
The company has a market capital of just under $ 1.12 billion.
Tether considers his Adecoagro’s investment as one in the safe port of land complementing its stocks in Bitcoin (BTC) and gold.
“Our investment is in line with Tether’s wider strategy to support infrastructure, technology and companies that promote financial freedom and resilience,” Tether CEO Paolo Ardoino said in Thursday’s announcement.
Tether also increases its exposure to the entertainment industry and acquires a 30.4% share in the Italian media company being water for 10 million euros ($ 10.8 million).
This investment follows Tether’s announcement last month to take a minority share in Ardoino’s favorite team Juventus FC, arguably the biggest football club in Italy.
