Adecoagro S A - AGRO STOCK NEWS

Adecoagro (NYSE: AGRO) has entered into a Transaction Agreement with Tether Investments, where Tether will initiate a tender offer to acquire up to 49,596,510 Common Shares at $12.41 per share, aiming to reach approximately 70% ownership of the company.

The transaction, unanimously approved by Adecoagro's Board of Directors, requires a minimum threshold of 51% ownership on a fully diluted basis. Mariano Bosch, Co-Founder and CEO, expressed enthusiasm about partnering with Tether, highlighting the company's focus on technology adoption across its food and renewable energy production segments.

The agreement includes a management retention plan and maintains partial continuity of the current Board while introducing new directors. CEO Paolo Ardoino emphasized Tether's commitment to investing in sustainable companies impacting real-world economies.

Adecoagro S.A. (NYSE: AGRO), a leading sustainable production company in South America, has announced the continuation of discussions with Tether Investments S.A. de C.V. regarding a potential acquisition proposal. The proposed tender offer would involve Tether acquiring outstanding Common Shares at $12.41 per share, aiming to achieve a 51% ownership of the Company's outstanding Common Shares.

Both parties have agreed to extend their Exclusivity Letter's expiration date through March 30, 2025. The Company emphasizes that there are no guarantees regarding the execution of a definitive agreement, transaction completion, or specific terms and conditions. Shareholders are not required to take any action at this time.

Adecoagro (NYSE: AGRO) reported its 2024 financial results with an Adjusted EBITDA of $444.3 million, down 6.8% year-over-year, and Net Cash Flow from Operations of $160.9 million, declining 8.5%. The company achieved record results in Rice and Dairy businesses, along with operational records in Sugar, Ethanol & Energy.

Key operational highlights include an all-time crushing record of 12.8 million tons and record sugar production. The company distributed $101.9 million to shareholders in 2024 through a $35 million cash dividend and $66.9 million in share repurchases, representing a 9.4% distribution yield.

On February 14, 2025, Tether Investments submitted an unsolicited non-binding proposal to acquire 51% of Adecoagro's outstanding shares at $12.41 per share. The company has entered into an Exclusivity Letter for further negotiations.

Adecoagro S.A. (NYSE: AGRO), a leading sustainable production company in South America, has announced it is in discussions with Tether Investments S.A. de C.V. regarding a potential acquisition offer. Tether has proposed to acquire outstanding Common Shares of Adecoagro at $12.41 per share through a tender offer that would result in Tether holding 51% of the outstanding Common Shares.

The companies have entered into an Exclusivity Letter to facilitate further negotiations. However, Adecoagro emphasized that no assurances can be given that a definitive agreement will be reached, that any transaction will be consummated, or what the timing, terms, or conditions might be.

Adecoagro's Board of Directors and management team stated they remain committed to enhancing shareholder value. The company does not plan to comment further on market speculation unless further disclosure becomes appropriate or required, and shareholders are not required to take any action at this time.

Adecoagro (NYSE: AGRO) has received an unsolicited non-binding proposal from Tether Investments S.A. de C.V. to acquire outstanding Common Shares at $12.41 per share through a tender offer. The proposal, received on February 14, 2025, aims to increase Tether's ownership to 51% of AGRO's outstanding shares. Tether currently holds 19.4% of the company's shares.

The Board of Directors met on February 16, 2025, to discuss the proposal and has decided to engage legal and financial advisors to evaluate whether the offer serves the best interests of all shareholders. The Board will respond in due course, and shareholders are not required to take any action at this time.

Adecoagro (NYSE: AGRO) reported mixed financial results for Q3 2024. Gross sales increased 17.7% in Q3 and 6.3% year-to-date, driven by higher volumes despite lower commodity prices. However, Adjusted EBITDA declined 28.6% in Q3 and 10.5% year-to-date. The company committed $96.3 million to shareholder distributions, including a $35 million annual dividend and $61.3 million in share repurchases. The second dividend installment of $17.5 million ($0.1740 per share) will be paid on November 27th. The company's farmland portfolio was independently valued at $682.6 million, showing a 0.4% year-over-year increase.

Adecoagro (NYSE: AGRO) has announced its second cash dividend distribution of $17.5 million, equivalent to approximately $0.1740 per share. The dividend will be paid to shareholders of record as of November 12, 2024, with payment scheduled for November 27, 2024. This represents the second tranche of a two-installment dividend plan, with the first equal payment made on May 29, 2024, bringing the total annual dividend to $35 million.

Adecoagro S.A. (NYSE: AGRO) reported its Q2 2024 results, showing mixed performance across its business segments. Adjusted EBITDA increased by 2.7% year-over-year to $140.0 million in Q2, driven by strong performance in the Crops segment and improved Dairy operations. However, the Sugar, Ethanol & Energy business saw an 8.5% decline in Adjusted EBITDA due to lower commodity prices.

Key highlights include:

• Gross sales down 2.3% in Q2 due to lower commodity prices
• Strong crushing pace and volume recovery in Farming
• Year-to-date shareholder distribution of $86.4 million, exceeding policy minimum
• Successful sale of La Pecuaria farm, generating $15.3 million in Adjusted EBITDA
• Continued share repurchase program, with 5.2 million shares bought back year-to-date

Adecoagro S.A. has announced the early results of its cash tender offer for up to US$100 million aggregate principal amount of its 6.000% Senior Notes due 2027. As of the Early Tender Date on August 2, 2024, US$83,656,000 in aggregate principal amount of Notes had been validly tendered. The company will accept all validly tendered Notes and make payment on the Early Settlement Date of August 6, 2024.

Holders who tendered by the Early Tender Date will receive the Total Consideration of US$980.00 per US$1,000 principal amount, which includes an Early Tender Premium of US$30.00. The Tender Offer is not oversubscribed at this point. The offer expires on August 19, 2024, unless extended or terminated earlier.