Adani Ports buys Dutch storage firm Evos for €2.56 billion

Adani Ports and Special Economic Zone Limited (APSEZ) on Thursday announced a deal to acquire 100 per cent of 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 (approximately ₹27,217 crore). The all-cash transaction values Evos at an equity value of €1.18 billion, implying a multiple of 11.7 times CY25 enterprise value to EBITDA. APSEZ said the acquisition will be funded through debt and is subject to regulatory approvals and works council consultation.

Evos reported revenue of €392 million and EBITDA of €219 million in calendar 2025, a 56 per cent margin. The platform has eight port-based terminals across the Netherlands, Germany, Spain, Belgium and Malta, with 6.3 million cubic metres of storage capacity and 452 tanks. APSEZ managing director Karan Adani said the acquisition creates a significant European presence and supports the region's sustainable energy transition. MUFG has committed up to €2.8 billion in financing.

Update, 5 November 2026: CNBC-TV18 adds a rupee equivalent of ₹27,217 crore for the enterprise value and reports that Evos' consolidated income rose from €323 million in CY23 to €392 million in CY25. The outlet also states that the acquisition will increase APSEZ's liquids cargo volumes from 46 MMT to 83 MMT based on FY26 and CY25 volumes. All sources confirm the same deal size, equity value and financing commitment.