Indian billionaire Gautam Adani will soon have another foreign company in his cabinet as Adani Ports and Special Economic Zone Limited (APSEZ), an Adani Group firm, is all set to fully acquire (100 per cent stake) in Netherlands-based Evos B.V. (Evos) at an enterprise value of 2.56 billion euros.

Evos is Europe's second-largest independent liquid storage operator owned by Igneo Infrastructure Partners. 

All-Cash Deal

The proposed transaction will be an all-cash deal, valuing Evos at an equity value of 1.18 billion euros. This implies an acquisition multiple of 11.7x CY25 EV/EBITDA, APSEZ, India's largest port operator, said. 

The transaction will be funded via debt and is subject to regulatory and other approvals and works council consultation, the company said.

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

"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.

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A European Platform To Be Set Up 

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.

About Evos 

  • Evos generated 392 million euros in revenue and 219 million euros in EBITDA in calendar year 2025. It holds a 56% EBITDA margin.

  • Evos operates as Europe's second-largest independent liquid storage operator, featuring storage capacity across eight port-based terminals in the Netherlands, Germany, Spain, Belgium, and Malta.

  • The terminals are strategically located in key European energy and industrial hubs, including the Amsterdam-Rotterdam-Antwerp (ARA) region, Hamburg, and the Mediterranean.

  • Evos has a diversified liquids platform that spans both conventional and transition fuels.

(With Inputs From PTI)