Davis Polk Advised Adecoagro On Its Majority Acquisition By Tether Investments
Davis Polk advised Adecoagro S.A. on its majority acquisition by Tether Investments, with a tender offer for up to 49.6 million shares at $12.41 per share, leading to a 70% stake.;
Davis Polk Advised Adecoagro on Its Majority Acquisition by Tether Investments
Davis Polk advised Adecoagro S.A. on its majority acquisition by Tether Investments S.A. de C.V. As part of the transaction, Tether will launch a tender offer to acquire up to 49,596,510 common shares of Adecoagro at $12.41 per share in cash. Once completed, this will result in Tether holding approximately 70% of Adecoagro’s outstanding shares.
The closing of the transaction is subject to certain conditions, including a minimum tender threshold requiring at least 51% of Adecoagro’s fully diluted shares to be tendered and not withdrawn.
Adecoagro is a leading sustainable production company in South America, owning 200,000 hectares of farmland and multiple industrial facilities across Argentina, Brazil, and Uruguay. The company produces over 2.8 million tons of agricultural products and generates over 1 million megawatt hours of renewable electricity annually.
Tether Investments is the investment arm of Tether, the first blockchain-enabled platform facilitating the digital use of traditional currencies through its USDT stablecoin, designed to maintain a 1:1 peg with the U.S. dollar.
The transaction was led by Maurice Blanco (Partner) and James P. Dougherty (Partner), with support from Samuel Liebmann (Associate), Yi Bao (Associate), and Will North (Associate) on corporate matters.
Adam Kaminsky (Partner) advised on executive compensation aspects, Kara L. Mungovan (Partner) provided tax advice, Samantha Zakka (Associate) advised on antitrust and competition matters.
Members of the Davis Polk team are based in New York, Washington DC, and Brussels offices.
