Adecoagro to sell 49.6M shares at $12.41 to Tether Group

Adecoagro (AGRO) and Tether Investments, a member of the Tether Group announced that they have entered into a transaction agreement. Pursuant to the terms of the agreement, which has been unanimously approved by Adecoagro’s board of directors, Tether will promptly commence a tender offer to acquire up to 49,596,510 common shares of the company at a price in cash of $12.41 per common share. The closing of the transaction is subject to certain closing conditions, including there being validly tendered and not validly withdrawn a number of common shares that, when added to the common shares already owned by Tether, represents at least 51% of the outstanding common shares on a fully diluted basis.