Adani Ports to Acquire 100% Stake in Evos B.V. for €1.18 Billion
Adani Ports (APSEZ) agreed to acquire 100% of Evos B.V. for an equity consideration of €1,184 million (approx. ₹10,000 crore) and an enterprise value of €2.56 billion. Evos B.V. is Europe's second-largest independent liquid storage operator with 6.3 million cubic meters capacity across eight terminals in five countries. The acquisition is expected to complete within 15 months, subject to regulatory approvals.
The acquisition of a significant European liquid storage operator at a substantial enterprise value is a material development for APSEZ, impacting its scale, geographic diversification, and future revenue streams.
The acquisition of Evos B.V. is a strategic move that expands APSEZ's global footprint, diversifies its business, and provides exposure to new-age fuels, aligning with the company's growth strategy and expected to enhance its financial profile.
Adani Ports and Special Economic Zone Limited (APSEZ) has entered into an agreement to acquire a 100% stake in Evos B.V., a Netherlands-based liquid storage operator, from F.S. Amelia S.à r.l. and Evos Manco B.V. The transaction, following a competitive bidding process, was agreed upon on November 5, 2026.
Evos B.V. is Europe's second-largest independent liquid storage operator, with eight strategically located port-based terminals across five countries: the Netherlands, Germany, Spain, Belgium, and Malta. The company has a total storage capacity of 6.3 million cubic meters and handles liquid products including gasoline, gasoil, marine fuels, jet fuel, and transition fuels like sustainable aviation fuel (SAF), biofuels, methanol, and bioethanol.
The acquisition is structured as an all-cash deal with an equity consideration of EUR 1,184 million (approximately ₹10,000 crore), subject to closing adjustments. The enterprise value for the transaction is €2.56 billion. Evos reported a consolidated income of EUR 392 million (approximately ₹3,300 crore) in the financial year ended December 31, 2025. The acquisition is expected to be completed within fifteen months from November 5, 2026, and is subject to necessary government and regulatory approvals in India and relevant foreign jurisdictions.
This acquisition is expected to significantly strengthen APSEZ's business risk profile by increasing the scale, geographic diversity, and cash flow of its combined platform. It establishes a substantial European foothold, diversifies APSEZ's liquids portfolio, and provides exposure to the long-term transition toward new-age fuels. Evos' operations are characterized by high revenue and cash flow visibility, with an average commercial occupancy of 99% and a substantial portion of revenue secured under take-or-pay contracts and CPI-linked agreements. Evos' EBITDA margin of 56% is noted to be accretive to APSEZ's margins.
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Adani Ports and Special Economic Zone Limited filed this with the NSE as a statutory disclosure, categorised under acquisition. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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