Marval advises Adecoagro in the acquisition of a majority stake by Tether Investments

Marval acted as local legal counsel to Adecoagro SA (NYSE: AGRO) in the acquisition of a majority stake by Tether Investments SA de CV, a member of the Tether group, which is a global leader in digital assets and the issuer of the USDT stablecoin.

The transaction was structured as a tender offer for up to 49,596,510 common shares of Adecoagro at a price of USD 12.41 per share, representing approximately 49.6% of the share capital. When added to the shares Tether already owns, the total shareholding reaches approximately 70% of the company. The transaction was approved by Adecoagro's board of directors and was completed on April 24, 2025, upon compliance with the established conditions, including the acceptance of at least 51% of the outstanding shares on a fully diluted basis. 

Marval’s team consisted of partner Pablo Viñals Blake and senior associate Ignacio Torino Zavaleta.

The transaction was led by Davis Polk & Wardwell LLP as international legal counsel to Adecoagro, while McDermott Will & Emery LLP represented Tether Investments.

Adecoagro is one of South America's leading agribusiness companies—with operations in Argentina, Brazil, and Uruguay—dedicated to sustainable food production and renewable energy.