Adani Ports to Acquire 100% Stake in Dutch Firm Evos for 2.56 Billion Euros

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

The proposed acquisition is an all-cash transaction, valuing Evos at an equity value of 1.18 billion euros, APSEZ said in a statement. The deal implies an acquisition multiple of 11.7 times the company's calendar year 2025 enterprise value to EBITDA (EV/EBITDA).

Evos reported revenue of 392 million euros and EBITDA of 219 million euros in 2025, translating into an EBITDA margin of 56 per cent, according to APSEZ.

The transaction will be funded through debt and is subject to regulatory and other approvals, along with consultation with the company's works council.

Commenting on the acquisition, APSEZ Managing Director Karan Adani said the addition of Evos would provide the company with a significant presence across key global liquid storage and energy hubs.

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

Adani added that the company looked forward to partnering with Europe in supporting its sustainable energy transition while creating long-term value and maintaining the financial prudence underpinning its growth.

The acquisition marks an expansion of APSEZ's international operations into Europe's liquid storage and energy infrastructure sector, strengthening its presence in strategic global markets.

The company said the transaction would help broaden its portfolio while providing opportunities to participate in the evolving energy landscape and support the transition towards sustainable energy.