Adani Ports to Buy Europe’s Evos in USD 2.9 Bn Deal
Adani Ports to acquire Dutch liquid storage operator Evos from Igneo for EUR 2.56 billion, funded through debt, pending approvals.
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Adani Ports and Special Economic Zone (APSEZ) have agreed to acquire Evos B.V., a Netherlands-based liquid storage operator, from Igneo Infrastructure Partners at an enterprise value of EUR 2.56 billion (about USD 2.9 billion). The equity value is EUR 1.18 billion. APSEZ announced the deal on Thursday.
The all-cash transaction will be funded through debt, with MUFG providing financing commitments of up to EUR 2.8 billion. It is subject to regulatory approvals and works council consultation.
Evos operates eight port-based liquid storage terminals across the Netherlands, Germany, Spain, Belgium, and Malta, with 6.3 million cubic metres of capacity. For calendar year 2025, it reported revenue of EUR 392 million and EBITDA of EUR 219 million, a 56% margin. APSEZ said the deal will expand its liquids portfolio and give it exposure to new-age fuels such as sustainable aviation fuel and biofuels. On completion, its footprint will grow to 28 ports and terminals across 10 countries.
APSEZ shares closed 1.3% lower at INR 1,884.6 on Thursday.
“Evos marks an important milestone in APSEZ’s trajectory towards handling 1 billion tons of cargo and building a truly global, integrated transport platform,” said Karan Adani, Managing Director, APSEZ.
Adani Ports and Special Economic Zone (APSEZ) have agreed to acquire Evos B.V., a Netherlands-based liquid storage operator, from Igneo Infrastructure Partners at an enterprise value of EUR 2.56 billion (about USD 2.9 billion). The equity value is EUR 1.18 billion. APSEZ announced the deal on Thursday.
The all-cash transaction will be funded through debt, with MUFG providing financing commitments of up to EUR 2.8 billion. It is subject to regulatory approvals and works council consultation.
Evos operates eight port-based liquid storage terminals across the Netherlands, Germany, Spain, Belgium, and Malta, with 6.3 million cubic metres of capacity. For calendar year 2025, it reported revenue of EUR 392 million and EBITDA of EUR 219 million, a 56% margin. APSEZ said the deal will expand its liquids portfolio and give it exposure to new-age fuels such as sustainable aviation fuel and biofuels. On completion, its footprint will grow to 28 ports and terminals across 10 countries.
APSEZ shares closed 1.3% lower at INR 1,884.6 on Thursday.
“Evos marks an important milestone in APSEZ’s trajectory towards handling 1 billion tons of cargo and building a truly global, integrated transport platform,” said Karan Adani, Managing Director, APSEZ.
