Adani Ports to buy Evos, Europe's liquid storage operator, for €2.56 billion
India's APSEZ agreed to acquire 100% of Evos B.V. from Igneo Infrastructure Partners. The all-cash deal will be debt-funded and awaits regulatory approvals.
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what happened
India's largest port operator, APSEZ, announced it will acquire 100% of Evos B.V. from Igneo Infrastructure Partners. The Netherlands-based company is, according to Moody's, Europe's second-largest independent liquid storage operator.
The transaction carries an enterprise value of €2.56 billion, while Evos's equity is valued at €1.18 billion. The purchase multiple is 11.7 times CY25 EV/EBITDA. APSEZ said Evos generated 2025 revenue of €392 million and EBITDA of €219 million, a 56% EBITDA margin.
The deal is all-cash and will be funded with debt. Completion depends on regulatory and other approvals, as well as consultation with the works council.
why it matters
For markets, the deal is a significant investment in liquid storage and energy-hub infrastructure in Europe. The debt funding will add to the buyer's balance sheet leverage.
market impact
European liquid storage: a large debt-funded acquisition for APSEZ, with no direct effect on commodity prices
tags
instruments
sources
- Adani Ports to acquire 100% of Evos BV at enterprise value of 2.56 billion euros — Moody's, 5 November 2026 at 11:07 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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