Tether increases its stake in Latin American agricultural company Adecoagro to 70%

According to Coindesk, Tether has increased its stake in Adecoagro, a Latin American agricultural company. According to the announcement, the offer of $12.41 per share will increase Tether's stake in Adecoagro from 51% to 70%, subject to certain transaction conditions. Adecoagro's business mainly focuses on the production of sugar, ethanol, dairy products, and crops in Argentina, Brazil, and Uruguay. The company owns 210400 hectares of farmland and multiple industrial facilities in these countries.