Adani Ports To Acquire European Storage Giant Evos For 2.56 Billion Euros

For the calendar year 2025, Evos delivered revenue and EBITDA of 392 million euros and 219 million euros, respectively (56 per cent EBITDA margin), APSEZ added.

05 Nov 2026, 10:30 · NDTV

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Adani Ports will acquire 100% stake in Netherlands-based Evos B.V. for 2.56 billion euros
Evos is Europe’s second-largest independent liquid storage operator
The all-cash deal values Evos at an equity value of 1.18 billion euros

Why is Adani expanding into European energy hubs?
New Delhi:

Adani Ports and Special Economic Zone Limited (APSEZ) on Thursday said it will acquire a 100 per cent stake in the Netherlands-based Evos B.V. (Evos), Europe's second-largest independent liquid storage operator, from Igneo Infrastructure Partners at an enterprise value of 2.56 billion euros.

India's largest port operator, in a statement, said the proposed transaction is an all-cash deal and values Evos at an equity value of 1.18 billion euros, implying an acquisition multiple of 11.7x CY25 EV/EBITDA.

For the calendar year 2025, Evos delivered revenue and EBITDA of 392 million euros and 219 million euros, respectively (56 per cent EBITDA margin), APSEZ added.

APSEZ further said the transaction will be funded via debt and is subject to regulatory and other approvals and works council consultation.

APSEZ managing director Karan Adani said, "We are delighted to welcome Evos into our portfolio, giving us significant presence across key global liquid storage and energy hubs."

"We look forward to partnering with Europe, supporting its sustainable energy transition and creating enduring value while maintaining the financial prudence that underpins our growth," he added.

According to the statement, the transaction establishes a major European liquids platform for APSEZ, comprising eight port terminals in five countries.

Evos has 6.3 million cubic metres of storage capacity and handled 37 MMT of throughput during 2025.

It adds a high-margin, cash-generative liquids business to APSEZ's portfolio with average commercial occupancy at 99 per cent and a substantial part of revenue under take-or-pay contracts and a CPI-linked contract base.

The statement said the transaction will strengthen APSEZ's business risk profile by increasing the scale, geographic diversity, and cash flow of the combined platform, and APSEZ's global footprint now expands to 28 ports and terminals across 10 countries.

Europe's second-largest independent liquid storage operator has storage capacity at eight strategically located port-based terminals across the Netherlands, Germany, Spain, Belgium and Malta.

Evos' terminals are positioned in Europe's most important energy and industrial hubs, including the Amsterdam-Rotterdam-Antwerp (ARA) region, Hamburg and the Mediterranean.

The platform comprises 452 tanks, 63 vessels and barge berths, and has several integrated pipeline connectivities, including Schiphol Airport and the Central Europe Pipeline System.

Evos operates a diversified liquids platform spanning both conventional and transition fuels. Its product mix includes gasoline, gasoil, marine fuels and jet fuel, alongside transition fuels such as sustainable aviation fuel (SAF), biofuels, methanol and bioethanol, positioning the business to participate in Europe's evolving energy mix. Evos is an investment-grade rated issuer.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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