Adani Ports to buy Europe-based liquid storage operator Evos in €2.56 billion deal

What happened

Adani Ports agreed to acquire a 100% stake in Netherlands-headquartered Evos in an all-cash transaction at an enterprise value of €2.56 billion. The proposed deal would add eight liquid-storage terminals across five European countries and remains subject to regulatory approvals and works council consultation.

Proposed

Global impact / market context

If approved, the deal would give Adani Ports a substantial European liquids-storage network and extend its stated reach to 28 ports and terminals in 10 countries. Funding through debt means the purchase would also add borrowing and related financing costs, while Evos brings reported CY25 revenue of €392 million.

Analyst inference

The article presents Evos as a large operator, with 6.3 million cubic metres of storage capacity and 37 million metric tonnes handled in CY25. It reports an 11.7-times EV/EBITDA valuation, a comparison of deal value with earnings before interest, tax, depreciation and amortisation.

Confirmed

What to watch

1. Regulatory approvals and works council consultation remain conditions; their completion would determine whether Adani Ports can proceed with the proposed acquisition. Confirmed
2. Watch for details on the debt funding, including borrowing terms and the resulting financing costs, which would shape the deal’s effect on cash available. Analyst inference
3. Evos’s reported CY25 revenue and EBITDA provide a starting point; future results would show whether the European terminals sustain those earnings after the transaction. Analyst inference

Evidence

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