Tether plans to fully acquire Serie A giant Juventus, with a planned investment of $1 billion.
BlockBeats News, December 13, according to Coindesk, Tether, the world's largest stablecoin USDT issuer, plans to acquire the Italian football club Juventus, aiming to increase its existing minority stake to 100%. The company announced on Friday that it has submitted a binding all-cash acquisition offer to the club's major shareholder Exor, intending to purchase its 65.4% stake. If the deal is completed, Tether will launch a public tender offer for the remaining shares of the club at the same price. Juventus FC SpA, the parent company of Juventus, is a listed company with a market capitalization of approximately $925 million based on Friday's closing price.
Tether stated that if the acquisition is completed, it will be "prepared" to invest $1 billion in the club. "Our interest in Juventus stems from deep admiration and respect," said Tether CEO Paolo Ardoino, a lifelong Juventus fan, in a statement. "Tether is financially strong and plans to support the club's development with stable capital and a long-term vision."
Currently, Tether holds more than 10% of Juventus shares and earlier this year expressed a desire to play a more active role in the Turin club. After the news was announced, the Juventus fan token JUV surged by 30%.
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