Adani Ports and Special Economic Zone (APSEZ) has announced its acquisition of the Netherlands-based liquid storage operator Evos B.V. for €2.56 billion ($2.88 billion), significantly strengthening its foothold in the European energy market. This deal, confirmed on Thursday, sees Adani acquire the entirety of Evos from Igneo Infrastructure Partners.
Strategic Expansion in Europe
Evos stands as Europe’s second-largest independent liquid storage operator, boasting eight strategically located terminals across the Netherlands, Germany, Spain, Belgium, and Malta. These facilities contribute an impressive combined storage capacity of 6.3 million cubic meters spread across 452 tanks, complemented by 63 vessel and barge berths and extensive pipeline infrastructure. The terminals are situated in critical energy hubs, notably in the Amsterdam-Rotterdam-Antwerp region, Hamburg, and along the Mediterranean coast.
In 2025, Evos handled 37 million metric tons of various liquid cargoes, including gasoline, gasoil, marine fuels, and jet fuel. The company is also positioned to capitalize on the rising demand for alternative fuels, as its portfolio encompasses emerging energy sources such as sustainable aviation fuel, biofuels, methanol, and bioethanol.
Financial Performance and Operational Capacity
The acquisition represents a pivotal moment in Adani’s ambition to enhance its global presence. As stated by Karan Adani, managing director of APSEZ, this move aims at achieving the goal of managing 1 billion tons of cargo and establishing a robust global transport platform. Evos reported revenues of €392 million and €219 million in earnings before interest, taxes, depreciation, and amortization (EBITDA) in 2025, achieving a substantial margin of 56%. The company has maintained an average commercial occupancy rate of 99%, predominantly due to long-term contracts that ensure stable revenue streams.
The financing of this acquisition is supported by commitments from MUFG of up to €2.8 billion, contingent on regulatory approvals and consultation with works councils. Adani Ports, as India’s largest private port operator, continues to expand its international operations, which already include terminals in Sri Lanka, Israel, Tanzania, and Australia. The integration of Evos into Adani’s portfolio is expected to provide additional exposure to Europe’s evolving fuel market and the ongoing transition towards sustainable energy solutions.
Behind the Headline
The acquisition of Evos by Adani Ports underscores a strategic approach to broadening its influence in the competitive European energy storage market. By integrating Evos’ advanced infrastructure into its operational framework, Adani enhances its capacity to cater to a diverse range of liquid cargoes, especially as demand for sustainable fuels continues to rise. This move also reflects a growing trend among major operators to secure assets in key logistical regions, particularly in Europe, where regulatory pressures are pushing the maritime industry towards greener alternatives. Stakeholders should monitor how this acquisition impacts Adani’s operational capabilities and market positioning, particularly amid the dynamic landscape of fuel transition and global trade logistics.
