Tether Boosted Its Stake in Latin American Agricultural Firm Adecoagro (AGRO)

Tether, issuer of $144 billion dollar stablecoin USDT, has boosted its stake in Latin American agricultural firm Adecoagro (AGRO).

Tether, the issuer of the $144 billion dollar stablecoin USDT, has boosted its stake in Latin American agricultural firm Adecoagro (NYSE: AGRO).

The $12.41 per share offer, which is subject to certain closing conditions, would take Tether's stake in Adecoagro from 51% to 70%, according to an announcement on Thursday.

AGRO shares rose more than 7% to $11.95 in pre-market trading on Friday.

Adecoagro's business is focused on sugar, ethanol, dairy and crop production Argentina, Brazil, and Uruguay. It owns 210,400 hectares of farmland and several industrial facilities across these countries.

The company has a market cap of just under $1.12 billion.

Earlier this year, Tether began disclosing its equity investments, which also include bitcoin (BTC) and gold.

"This strategic partnership with Adecoagro is a testament to our commitment to forging alliances with companies that share our vision for a sustainable and prosperous future," said Tether CEO Paolo Ardoino. "Their dedication to responsible practices in agriculture and their contributions to the Latin American economy align perfectly with Tether's broader strategy to back infrastructure, technology, and businesses that advance economic freedom and resilience."

Tether is also expanding its presence in the entertainment industry with the acquisition of a 24.9% stake in Italian media company Be Water for 10 million euros ($10.8 million).

This investment follows Tether's announcement last month of taking a minority stake in Ardoino's favorite team Juventus FC, arguably the largest soccer club in Italy.