Tether Eyes Major Stake in South African Energy Firm
The post Tether Eyes Major Stake in South African Energy Firm appeared first on Coinpedia Fintech News
In a recent development, Tether is all set to invest in South African energy company Adecoagro S.A., with a preliminary bid to acquire a significant stake. This move is part of Tethers ongoing global investment strategy, following its recent partnership with Juventus.
Tether To Acquire Major Stake
As per a recent press release, Tether, the issuer of USDT, plans to acquire a 51% stake in a South African sustainable production company. On February 14, Tether made an unsolicited, non-binding proposal to buy 51% of the companys shares at $12.41 per share through a tender offer.
Notably, Tether is already a shareholder of the Company, holding approximately 19.4% of its outstanding Common Shares according to Tethers last public filing on Schedule 13D dated November 14, 2024. If approved, this acquisition would increase Tethers stake to 51%, making it the leading shareholder in the agribusiness.
On February 16, 2025, the Board of Directors met to review the terms of Tethers proposal. They have decided to bring in legal and financial advisors to help assess whether the offer is in the best interests of the companys shareholders.
Tether Expands Global Footprint
Tether has strengthened its global growth plans by obtaining a Digital Asset Service Provider (DASP) license in El Salvador and moving its headquarters to the country.
Also, it recently formed a game-changing partnership with Italian football powerhouse Juventus. The platform secured a minority stake in the club, opening the door to innovative integrations between its advanced technology and the world of sports.
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Text source: Coinpedia – Fintech & Cryptocurreny News Media| Cr
