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Tether is considering a full acquisition of the Serie A giant Juventus, with a planned investment of $1 billion.
BlockBeats News, December 13th, according to Coindesk, Tether, the world's largest stablecoin issuer, plans to acquire Italian football club Juventus, aiming to increase its existing minority stake to 100%. The company stated in a Friday announcement that it has submitted a binding all-cash acquisition offer to the club's major shareholder Exor, aiming to purchase its 65.4% stake. If the transaction is completed, Tether will launch a public tender offer to acquire the remaining shares of the club at the same price. Juventus Football Club's parent company, Juventus FC SpA, is a publicly traded 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 has a strong financial position and plans to support the club's development with stable capital and a long-term vision."
Currently, Tether holds over 10% of Juventus's shares and had previously expressed a desire to play a more active role in this Turin-based club. Following the announcement, the Juventus fan token, JUV, surged by 30%.
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