Mumbai, Nov. 10 -- Adani Ports and Special Economic Zone (APSEZ), India's largest port operator, will acquire a 100 per cent stake in Netherlands-headquartered Evos from Igneo Infrastructure Partners in an all-cash transaction. The deal carries an enterprise value of €2.56 bn, equivalent to Rs. 271.42 bn, while Evos' equity is valued at €1.18 bn, or Rs. 125.11 bn.
The transaction will be funded through debt and remains subject to regulatory and other approvals, as well as works council consultation. Evos operates eight port-based liquid-storage terminals across five European countries: the Netherlands, Belgium, Germany, Spain and Malta.
The terminals have storage capacity of 6.3 mn cubic metres and handle gasoline, gasoil, marine fuels and jet fuel, along with transition fuels such as sustainable aviation fuel, biofuels, methanol and bioethanol. The facilities include 452 tanks, 63 vessel and barge berths, and pipeline connections serving Schiphol airport and the Central Europe Pipeline System.
Evos handled 37 mn t of throughput in 2025 and serves energy majors, industrial and chemical companies, and commodity traders. APSEZ said the business has average commercial occupancy of 99 per cent, with a substantial share of revenue supported by take-or-pay arrangements, consumer price index-linked contracts and long-term customer relationships.
The acquisition will establish a significant European presence for APSEZ, expand and diversify its liquid-cargo portfolio, and provide exposure to the transition towards newer fuels. Evos' earnings before interest, tax, depreciation and amortisation margin was 56 per cent, compared with 44.8 per cent for APSEZ's international ports business in the first half of FY27. MUFG is the sole underwriter and has committed financing of up to €2.8 bn for the transaction. APSEZ had a cash balance of Rs. 125.02 bn as of July-September.
Published by HT Digital Content Services with permission from Construction World.