India’s Adani Agrees to Buy Europe’s 2nd-Largest Liquid Storage Operator
Adani Ports and Special Economic Zone Limited (APSEZ) agreed to acquire Netherlands-headquartered Evos B.V. from Igneo Infrastructure Partners in a deal with an enterprise value of €2.56 billion ($2.87 billion). Already India’s largest port terminal operator, Adani continues to seek opportunities to expand its international footprint and build a foothold in Europe.
Evos will be an important part of the corporate strategy, with Adani calling it a “strong strategic fit with its ambitions to build a globally diversified integrated transport platform.” It establishes a sizeable European presence for the company while also scaling the size and diversifying its liquids operations.
“Evos marks an important milestone in APSEZ’s trajectory towards handling 1 billion tons of cargo and building a truly global, integrated transport platform,” said Karan Adani, Managing Director of APSEZ.
Netherlands-based Evos is Europe’s second-largest independent liquid storage operator, with 6.3 mn cubic meters of storage capacity at eight port-based terminals across the Netherlands, Germany, Spain, Belgium, and Malta. Evos operates a diversified liquids platform spanning both conventional and transition fuels. Its product mix includes gasoline, gasoil, marine fuels and jet fuel, alongside transition fuels such as sustainable aviation fuel (SAF), biofuels, methanol, and bioethanol, positioning the business to participate in Europe’s evolving energy mix. Evos is an investment-grade rated issuer.
Adani highlights that the company is positioned in Europe’s most important energy and industrial hubs, including the Amsterdam-Rotterdam-Antwerp region, Hamburg, and the Mediterranean. The platform comprises 452 tanks, 63 vessels, and barge berths, and has several integrated pipeline connections, including with Schiphol Airport and the Central Europe Pipeline System.
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Evos had 2025 revenues of €392 million and an EBITDA of €219 million. It handled 37 MMT of throughput in CY25.
Adani highlights that, with this acquisition, it will expand its footprint to 10 countries and a total of 28 ports. While it continues strong revenue and earnings growth, the company’s international portfolio has so far been limited to ports in Israel, Tanzania, Sri Lanka, and Australia. It had been linked to the early rounds of bidding for Associated British Ports, but was not named as a finalist. ABP was sold two weeks ago to an Australia-based fund manager.
