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LUXEMBOURG - Adecoagro S.A. (NYSE: AGRO), a prominent South American sustainable production company with a market capitalization of $910 million, has announced a significant overhaul of its Board of Directors following the acquisition of a 70% stake by Tether Investments S.A. de C.V. According to InvestingPro data, the company maintains strong financial health with a current ratio of 2.54, indicating robust liquidity. The transition involves the resignation of five board members and the immediate appointment of five new directors.
The departing board members are Mrs. Ana Cristina Russo, Mr. Guillaume van der Linden, Mr. Alan Leland Boyce, Mr. Andres Velasco Brañes, and Mr. Plinio Musetti. Their contributions were acknowledged by Mariano Bosch, Co-Founder and CEO of Adecoagro, who also welcomed the new appointees for bringing a fresh perspective to the company.
The new directors, set to be confirmed at the General Shareholders’ Meeting on June 6, 2025, include Mr. Juan José Sartori Piñeyro, Mr. Christian De Prati, Mr. Andres Larriera, Mr. Kyril Robert Leonid Louis-Dreyfus, and Mr. Oscar Alejandro León Bentancor. They join the existing members to form a nine-person Board, which will continue to guide the company through its strategy, risk management, environmental, social, governance (ESG), talent, compensation, and audit activities.
Juan Sartori, the newly appointed Executive Chairman of the Board, expressed his gratitude towards the outgoing board members and the management team. He emphasized the company’s strong performance in food and renewable energy sectors and his enthusiasm for supporting Adecoagro’s growth and commitment to sustainable development.
The new board members bring diverse backgrounds and expertise to Adecoagro. For instance, Mr. Sartori is the Chairman and founder of Union Group International Holdings and has significant interests in various sectors across Latin America. Mr. De Prati has a background in investment banking and corporate governance, while Mr. Larriera brings experience in strategic advisory and corporate transformations. Mr. Louis-Dreyfus is associated with the Louis Dreyfus Group and has investments in sports and private equity. Finally, Mr. León is a seasoned financial expert with extensive experience in financial management and risk analysis.
Adecoagro owns over 210,000 hectares of farmland and operates several industrial facilities in Argentina, Brazil, and Uruguay, producing agricultural commodities and renewable electricity. The board changes come at a time when the company is poised for further expansion and development.
This report is based on a press release statement from Adecoagro S.A.
In other recent news, Adecoagro S.A. has been the focus of several significant developments that investors should note. The company is currently engaged in discussions with Tether Investments S.A. de C.V. regarding a potential tender offer to acquire a majority stake in Adecoagro at $12.41 per share. This transaction, if completed, would increase Tether’s ownership to approximately 70% of Adecoagro’s outstanding shares, contingent upon acquiring at least 51% on a fully diluted basis. Meanwhile, analysts have adjusted their outlooks on Adecoagro, with BofA Securities downgrading the stock from Neutral to Underperform and lowering the price target to $10.80. Similarly, Morgan Stanley has downgraded Adecoagro to Underweight, revising its price target to $10, citing concerns over share liquidity and uncertainties regarding the new controller’s strategies. Both firms have highlighted increased risks and strategic uncertainties surrounding the company. Despite these challenges, Tether’s potential acquisition is seen as a move that could enable Adecoagro to pursue a more ambitious growth plan. Investors are advised to stay updated on these developments as they unfold.
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