Tether expansion in Brazil continues with bid for control of Adecoagro
Tether, the issuer of the world’s largest stablecoin, USDT, has made a bid to acquire control of Adecoagro, a leading agricultural and renewable energy producer operating in Brazil, Argentina, and Uruguay.
The offer, submitted last Friday (14), proposes to purchase 31.6% of Adecoagro’s outstanding common shares at $12.41 per share. If accepted, Tether’s stake would rise to 51%, giving it control of the company, as it already holds 19.4%, according to BlockNews.
Adecoagro’s board of directors acknowledged the offer and announced it would engage legal and financial advisors to evaluate the proposal. The bid represents a significant premium over the company’s current stock price, which surged 13% after the announcement, closing at $10.98 on the New York Stock Exchange.
A strategic move into energy and agriculture
Tether’s growing interest in Adecoagro aligns with its broader strategy of diversifying assets beyond digital finance. The company has been actively investing in renewable energy, particularly in Latin America. Adecoagro generates approximately 1 million megawatt-hours of electricity annually through biomass energy derived from sugarcane processing, supplying power to both its operations and the national grid.
The offer comes amid increased regulatory scrutiny on stablecoins. A recent analysis by JPMorgan suggested Tether might need to sell bitcoin reserves to comply with potential U.S. regulations. Tether dismissed these claims, citing strong financial performance and a $13 billion profit in 2024.
With investments in energy and agriculture, Tether appears to be positioning itself for long-term sustainability, leveraging Adecoagro’s infrastructure to secure energy resources that could support operations such as bitcoin mining. The company has yet to detail its specific plans for Adecoagro if the acquisition is finalized.
Meanwhile, Brazil has solidified its status as a global leader in crypto, with 26 million citizens—12% of the population—owning digital assets. This ranks the country sixth worldwide in crypto adoption, highlighting its growing impact in the sector.
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