Adani Ports Makes Major Push Into Europe With $2.9 Billion Evos Acquisition

India’s Adani Ports and Special Economic Zone (APSEZ) has agreed to acquire Netherlands-based liquid storage operator Evos B.V. in a €2.56 billion ($2.88 billion) deal that will give the company a major foothold in Europe’s energy and fuel storage market.

The agreement, announced Thursday, will see Adani acquire 100% of Evos from Igneo Infrastructure Partners.

Evos is Europe’s second-largest independent liquid storage operator, with eight port-based terminals across the Netherlands, Germany, Spain, Belgium and Malta.

Its facilities have a combined storage capacity of 6.3 million cubic meters across 452 tanks, supported by 63 vessel and barge berths and extensive pipeline connections. The terminals are located in major European energy hubs, including the Amsterdam-Rotterdam-Antwerp region, Hamburg and the Mediterranean.

Evos handled 37 million metric tons of liquid cargo in 2025, including gasoline, gasoil, marine fuels and jet fuel. Its portfolio also includes emerging fuels such as sustainable aviation fuel, biofuels, methanol and bioethanol.

The acquisition marks a significant expansion of Adani’s international operations, extending its global footprint to 28 ports and terminals across 10 countries upon completion.

“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 of APSEZ.

Evos generated €392 million in revenue and €219 million in earnings before interest, taxes, depreciation and amortization (EBITDA) in 2025, representing a 56% margin. Adani said the business has maintained average commercial occupancy of 99%, with much of its revenue supported by long-term contracts.

The acquisition also gives Adani greater exposure to Europe’s evolving fuel market as demand grows for alternative marine and aviation fuels.

Adani Ports, India’s largest private port operator, has been expanding internationally through investments in port infrastructure and logistics. Its existing overseas operations include terminals in Sri Lanka, Israel, Tanzania and Australia.

The transaction carries an equity value of €1.18 billion and will be financed through debt, subject to regulatory approvals and works council consultation.

MUFG has provided financing commitments of up to €2.8 billion for the proposed transaction. The companies did not announce an expected closing date.

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