Adani Ports and Special Economic Zone (APSEZ) has agreed to acquire Evos B.V., the second largest liquid storage operator in Europe, from Igneo Infrastructure Partners. The value of this deal is estimated at €2.56 billion ($2.87 billion). With this acquisition, Adani, as the largest port terminal operator in India, aims to expand its influence in international markets and establish a foothold in Europe.
Adani's Expansion Strategy in Europe
Adani has stated that Evos will act as a key component in its corporate strategy, considering it a "strong strategic fit" to achieve its goals of building a global integrated transportation platform. This acquisition will help Adani establish a significant presence in Europe and also expand its liquid operations.
Karan Adani, CEO of APSEZ, stated: "Evos is a significant milestone on APSEZ's path to managing one billion tons of cargo and building a global integrated transportation platform." Evos, with a storage capacity of 6.3 million cubic meters across eight port terminals in the Netherlands, Germany, Spain, Belgium, and Malta, is considered one of the largest independent liquid storage operators in Europe.
Product Diversification and Presence in Key Markets
Evos has a diverse liquid platform that includes conventional and transitional fuels. These products include gasoline, diesel, marine fuel, and jet fuel, along with transitional fuels such as sustainable aviation fuel (SAF), biodiesel, methanol, and bioethanol, enabling the business to participate in energy transitions in Europe. Evos is also recognized as an investment-grade exporter.
Adani has emphasized that the company is located in the most important energy and industrial hubs of Europe, including the Amsterdam-Rotterdam-Antwerp region, Hamburg, and the Mediterranean Sea. This platform includes 452 tanks, 63 ships, and cargo docks, and has several integrated pipeline connections, including with Schiphol Airport and the Central European pipeline system.
In 2025, Evos had a revenue of €392 million and an EBITDA of €219 million, handling 37 million tons of cargo in the fiscal year 2025. With this acquisition, Adani will continue to expand its base to 10 countries and a total of 28 ports. While the company has experienced high revenue growth and profitability, its international portfolio has so far been limited to ports in Israel, Tanzania, Sri Lanka, and Australia. The company has been dependent on early bidding rounds for British ports but has not been shortlisted as a finalist.
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