Adani Ports to amass Europe’s second largest liquid storage operator Evos, add 8 European terminals
The all-cash transaction will see APSEZ purchase Evos from Igneo Infrastructure Companions. The deal values the corporate at an fairness worth of €1.18 billion, with an acquisition a number of of 11.7 occasions its 2025 enterprise value-to-EBITDA.
The acquisition will add eight port-based terminals throughout the Netherlands, Germany, Spain, Belgium and Malta to Adani Ports’ portfolio. As soon as accomplished, APSEZ’s international community will increase to twenty-eight ports and terminals throughout 10 nations.
Evos is Europe’s second-largest unbiased liquid storage operator, with 6.3 million cubic metres of storage capability throughout its eight terminals.
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The corporate operates 452 storage tanks and 63 vessel and barge berths. Its amenities are situated in main European power hubs, together with Amsterdam-Rotterdam-Antwerp, Hamburg and the Mediterranean.
Evos handles merchandise resembling gasoline, diesel, marine fuels and jet gas, alongside sustainable aviation gas, biofuels, methanol and bioethanol.
In calendar yr 2025, Evos reported income of €392 million and EBITDA of €219 million, with an EBITDA margin of 56%. It dealt with 37 million tonnes of cargo throughout the yr.
The corporate additionally reported common industrial occupancy of 99%, supported by long-term buyer contracts.
Karan Adani, Managing Director of APSEZ, mentioned the acquisition would strengthen the corporate’s worldwide presence and help its ambition of dealing with one billion tonnes of cargo.
“Evos marks an necessary milestone in APSEZ’s trajectory in the direction of dealing with 1 billion tons of cargo and constructing a really international, built-in transport platform. We’re delighted to welcome Evos into our portfolio, giving us important presence throughout key international liquid storage and power hubs,” he mentioned.
“We stay up for partnering with Europe, supporting its sustainable power transition and creating enduring worth whereas sustaining the monetary prudence that underpins our development,” Adani added.
APSEZ mentioned the transaction could be funded via debt. Japanese monetary group MUFG is the only underwriter and has offered financing commitments of as much as €2.8 billion.
The mixed firm’s professional forma internet debt-to-EBITDA ratio is estimated at 2.76 occasions, which APSEZ expects to carry all the way down to round 2.5 occasions by FY27.
The transaction stays topic to regulatory approvals and consultations with employees’ councils in Europe.
APSEZ mentioned the acquisition would strengthen its worldwide enterprise by including predictable money flows and increasing its presence within the international power and industrial provide chain.
