Adani Ports Makes Major Push Into Europe With $2.9 Billion Evos Acquisition

Adani Ports and Special Economic Zone, or APSEZ, is acquiring all of Evos B.V. The seller is Igneo Infrastructure Partners. Evos operates independent, port-based liquid-storage terminals across Europe. The agreed purchase price is €2.56 billion, while the transaction carries an equity value of €1.18 billion.

Evos owns and operates eight terminals in five European countries. Together, they store up to 6.3 million cubic meters of liquid cargo in 452 tanks. The sites also include vessel and barge berths and pipeline links. This gives Adani an operating platform connected to major energy hubs.

The acquisition expands APSEZ beyond its existing overseas terminals in Sri Lanka, Israel, Tanzania and Australia. It also adds exposure to gasoline, gasoil, marine fuels, jet fuel and newer products such as biofuels and sustainable aviation fuel. Completion still depends on regulatory approvals and works council consultation.

Evos has eight port-based liquid-storage terminals in the Netherlands, Germany, Spain, Belgium and Malta. This gives the business a presence in five countries and several major European energy centers. Adani’s purchase therefore covers a connected operating network rather than one isolated facility.

The terminals have combined storage capacity of 6.3 million cubic meters. That capacity is divided among 452 tanks. Evos also has 63 berths for vessels and barges, supported by extensive pipeline connections. These assets let liquid cargo arrive, be stored, blended or transferred, and then leave by ship, barge or pipeline.

The scale helps explain the acquisition’s strategic importance. Evos handled 37 million metric tons of liquid cargo in 2025. After completion, Adani says its global footprint will reach 28 ports and terminals across 10 countries. The deal therefore adds both physical capacity and geographic reach.

Evos’s terminals are located in major European energy hubs, including the Amsterdam-Rotterdam-Antwerp region, Hamburg and the Mediterranean. These locations matter because they place storage close to busy ports, cargo routes and customers. The terminals can therefore serve as transfer points between seaborne supplies and inland or regional demand.

A concrete example is a liquid cargo shipment arriving by vessel. It can be unloaded into Evos tanks, held until needed, and moved onward by barge or pipeline. Evos’s 63 vessel and barge berths and extensive pipeline connections support that movement. Storage also lets customers manage timing between deliveries and sales rather than moving every cargo immediately.

The article does not provide separate trading volumes for each location. It does show the network’s overall commercial strength: Evos handled 37 million metric tons in 2025 and maintained average commercial occupancy of 99%. Those figures make the strategic locations especially valuable to Adani.

Evos stores and handles gasoline, gasoil, marine fuels and jet fuel. Its portfolio also includes sustainable aviation fuel, biofuels, methanol and bioethanol. This combination gives the company exposure to established fuel markets while adding products linked to Europe’s changing energy and transport needs.

The operating mechanism is straightforward. Cargo arrives at port, enters one of Evos’s 452 tanks, and can later move through vessel, barge or pipeline connections. Different tanks and facilities can support different liquid products. In 2025, Evos handled 37 million metric tons of liquid cargo across its network.

The article says demand is growing for alternative marine and aviation fuels. That helps explain why Evos includes newer fuels alongside conventional products. The portfolio can serve existing fuel flows today while giving Adani greater exposure to emerging categories. Evos’s long-term contracts and 99% average commercial occupancy also support recurring use of the facilities.

The deal would make Adani Ports a larger international operator with a direct foothold in Europe’s energy and fuel-storage market. APSEZ already has overseas operations in Sri Lanka, Israel, Tanzania and Australia. Adding Evos would broaden both its geography and its role in the energy supply chain.

Evos brings eight terminals, 6.3 million cubic meters of storage, 452 tanks, 63 berths and pipeline connections. These assets support cargo handling, storage and onward distribution. Evos also reported €392 million in revenue and €219 million in EBITDA in 2025, with a 56% margin and 99% average commercial occupancy.

Upon completion, Adani says its global footprint will reach 28 ports and terminals across 10 countries. The company also expects greater exposure to Europe’s evolving fuel market, including alternative marine and aviation fuels. The transaction remains subject to regulatory approvals and works council consultation, so the expansion is not yet complete.

The main parties are APSEZ, which agreed to buy Evos, and Igneo Infrastructure Partners, which agreed to sell it. Evos is the acquired business. MUFG is the financing bank, providing commitments of up to €2.8 billion. APSEZ managing director Karan Adani described the deal as an important milestone.

The transaction will be financed through debt. MUFG’s commitment supports the proposed purchase, but financing alone does not complete it. The companies announced an equity value of €1.18 billion and did not announce an expected closing date. The agreed acquisition price is €2.56 billion.

Regulatory approvals are still required, meaning relevant authorities must review the transaction before it can close. Works council consultation is also required, giving employee representatives a formal role in the process. If those steps are completed, Adani can acquire 100% of Evos. Until then, the agreement remains subject to conditions.

Ports are the entry and exit points for liquid cargo arriving by ship. Storage terminals receive those products into tanks and hold them near major markets. From there, cargo can move by vessel, barge or pipeline to other locations or customers. Together, these assets form a connected transport and storage platform.

Evos illustrates the mechanism. Its eight terminals have 452 tanks, 63 vessel and barge berths, and extensive pipeline connections. A cargo can arrive at a berth, enter storage, remain there until needed, and then move onward through another transport link. This arrangement supports gasoline, marine fuels, jet fuel and alternative products.

Long-term contracts add commercial stability. The article says much of Evos’s revenue is supported by such contracts, while average commercial occupancy reached 99%. That suggests customers reserve capacity for extended periods. For Adani, the combination offers infrastructure, regular use and access to major European energy hubs.