Adani Ports to Acquire Evos for €2.56 Billion; Shares Gain 0.26%

Mumbai, November 05: Adani Ports and Special Economic Zone Limited (APSEZ) has agreed to acquire a 100% stake in Netherlands-headquartered Evos B.V. in an all-cash transaction valued at an enterprise value of €2.56 billion. The agreement was entered into on November 5, following a competitive bidding process.

The transaction values Evos at an equity value of €1.184 billion, subject to closing adjustments, and implies an acquisition multiple of 11.7 times its CY25 enterprise value to EBITDA. The deal is subject to regulatory approvals and works council consultation, with completion expected within 15 months from November 5, 2026.

Evos Acquisition Expands APSEZ’s European Presence

Evos is Europe’s second-largest independent liquid storage operator, with eight port-based terminals across five countries: the Netherlands, Germany, Spain, Belgium and Malta. Its total storage capacity stands at 6.3 million cubic metres, and it handled 37 million metric tonnes of throughput during CY25.

The company reported CY25 revenue of €392 million and EBITDA of €219 million, translating into an EBITDA margin of 56%. Its average commercial occupancy was 99%, with a substantial portion of revenue supported by take-or-pay contracts and CPI-linked agreements.

The acquisition will expand APSEZ’s global footprint to 28 ports and terminals across 10 countries. It will also increase its liquids portfolio from 46 MMT to 83 MMT, adding exposure to fuels such as sustainable aviation fuel, methanol and bioethanol.

The transaction will be funded through debt. MUFG is the sole underwriter and has provided financing commitments of up to €2.8 billion.

Stock Market Snapshot

The Adani Ports share price was trading at ₹1,915, up ₹5 or 0.26% on Thursday, November 5, 2026, at 3:10:58 PM IST, compared with the previous close of ₹1,910. The stock opened at ₹1,947.20.

About Adani Ports

Adani Ports and Special Economic Zone Limited is an integrated transport operator and part of the Adani Group. Its operations span port handling, international freight networks, rail transport, logistics parks, warehousing and road transportation.

Conclusion

The proposed Evos acquisition marks a major expansion of APSEZ’s international liquids business, adding a sizeable European platform and high-margin storage operations. Completion remains subject to regulatory approvals and the required consultation process.

Source:

• https://www.nseindia.com/get-quote/equity/ADANIPORTS/Adani-Ports-and-Special-Economic-Zone-Limited
• https://nsearchives.nseindia.com/corporate/rkbhagia_05112026150844_APSEZSEIntimation.pdf