Adani Ports Expands Into European Energy Storage Market With €2.56 Billion Evos Acquisition
Ahmedabad, Nov 5: Adani Ports and Special Economic Zone Limited (APSEZ) on Thursday announced the acquisition of Netherlands-based Evos B.V., Europe’s second-largest independent liquid storage operator, in an all-cash transaction valued at an enterprise value of 2.56 billion euros. Under the agreement, APSEZ will acquire a 100 per cent stake in Evos from Igneo Infrastructure Partners. The deal…
Adani Ports, one of India's largest integrated transport operators, has announced the acquisition of Evos B.V., a Netherlands-based company that is Europe's second-largest independent liquid storage operator. The acquisition is valued at €2.56 billion and will give Adani Ports a significant presence in global liquid storage and energy hubs.
The deal, which is expected to be completed after regulatory approvals and works council consultation, values Evos at €1.18 billion on an equity basis and implies an acquisition multiple of 11.7 times for the fiscal year 2025. Adani Ports CEO Karan Adani stated that the acquisition marks a significant milestone in his company's journey towards handling one billion tonnes of cargo and building a truly global integrated transport platform.
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