A South American agribusiness company announced it received an unsolicited, non-binding proposal from Tether Investments.
The proposal is to acquire a majority stake through a tender offer at $12.41 per share. The deal would give Tether a 51% stake in the company. Tether (USDT), which currently holds approximately 19.4% of Adecoagro’s outstanding shares, submitted the proposal on February 14, 2025.
The company’s board met two days later and decided to engage legal and financial advisors to evaluate the offer. The board has not made a final decision and advised shareholders not to take action yet.
Adecoagro, founded in 2002 and headquartered in Luxembourg, is one of South America’s largest agricultural producers.
The company manages farmland across Argentina, Brazil, and Uruguay, producing key crops like soybeans, corn, and rice. It is also a major player in the region’s sugar, ethanol, and energy markets.
Tether’s Adecoagro stake
Tether Investments has gradually increased its position in Adecoagro over the past year. Its latest public filing on November 14, 2024, disclosed a 19.4% stake.
The proposed offer represents a premium over recent market prices, although Adecoagro did not disclose the stock’s trading level before the bid.
The offer comes as global agricultural markets face increased interest from investors looking for exposure to food production and bioenergy sectors. Adecoagro’s diversified operations and focus on sustainability have positioned it as a key player in the industry.
“The Board of Directors will respond in due course,” the company stated, emphasizing its commitment to shareholders’ best interests.
