Adani Ports agrees to buy Evos for €2.56 billion

Adani Ports and Special Economic Zone Ltd. (APSEZ) has agreed to acquire all of Netherlands-based liquid storage operator Evos B.V. from Igneo Infrastructure Partners in an all-cash transaction valued at €2.56 billion in enterprise value, the company announced November 5, 2026. The proposed acquisition remains subject to regulatory approvals and works council consultation, and APSEZ said the indicative completion timeline is 15 months. APSEZ put the deal’s equity value at €1.18 billion, subject to closing adjustments, and said it would finance the transaction through debt. The enterprise value represents 11.7 times Evos’ calendar-year 2025 EBITDA, according to APSEZ. The announcement did not mean the acquisition had been completed. Evos operates eight port-based terminals across the Netherlands, Germany, Spain, Belgium and Malta, with storage capacity of 6.3 million cubic metres, APSEZ said. Its facilities serve energy and industrial hubs including the Amsterdam-Rotterdam-Antwerp region, Hamburg and the Mediterranean. APSEZ described Evos as Europe’s second-largest independent liquid storage operator. For calendar year 2025, Evos recorded revenue of €392 million and EBITDA of...