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Tether Submits Binding Proposal to Acquire Majority Stake in Juventus FC
Source: CryptoNewsNet Original Title: Crypto Firm Tether Moves to Take Over Italian Football Club Juventus Original Link: Tether, the crypto firm behind the world’s largest stablecoin, is aiming to acquire popular Italian football club Juventus FC, boosting its minority stake to 100%.
The firm has submitted a binding proposal for majority shareholder Exor’s 65.4% stake in the club in an all-cash offer. If that deal goes through, Tether intends to make a public tender offer for the club’s remaining shares at the same price. Juventus FC SpA is a publicly-traded company, with a market capitalization of $925 million.
Tether said it’s “prepared” to invest $1 billion in the club if the transaction is completed.
“Our interest in Juventus comes from deep admiration and respect,” Tether CEO Paolo Ardoino, a lifelong fan of the team, said in a statement. “Tether is in a position of strong financial health and intends to support Juventus with stable capital and a long horizon.”