BELGIUM; GERMANY —Adani Ports and Special Economic Zone Limited has agreed to acquire a 100 percent stake in Netherlands-headquartered Evos B.V. from Igneo Infrastructure Partners through an all-cash transaction. The enterprise value of the buyout is established at EUR 2.56 billion, reflecting an equity valuation of EUR 1.18 billion and an acquisition multiple of 11.7 times the projected earnings before interest, taxes, depreciation, and amortization for the calendar year 2025. Financing for the transaction includes a debt commitment of up to EUR 2.8 billion underwritten by MUFG, while legal advisory services were provided by Linklaters and Cyril Amarchand Mangaldas. The final execution of the agreement remains conditional upon receiving customary regulatory clearances and completing the mandatory works council consultation procedures.
Headquartered in Ahmedabad, India, Adani Ports and Special Economic Zone Limited operates as a major integrated transport utility, managing an extensive network of commercial ports, terminals, and logistics infrastructure. Evos B.V. functions as an independent liquid storage operator in Europe, managing a network of strategically located port terminals that handle diverse conventional petroleum products and emerging transition fuels.
The transaction significantly accelerates the acquiring conglomerate's long-term corporate trajectory toward handling one billion tons of annual cargo throughput while expanding its global operational footprint across multiple international jurisdictions. By integrating a business with substantial pre-existing commercial occupancy rates and rigorous long-term take-or-pay contract structures, the acquiring entity aims to insulate its broader operations against cyclical volatility in maritime freight markets.
The acquisition directly impacts the European and international energy logistics sectors by consolidating terminal capacities across vital industrial corridors in the Amsterdam-Rotterdam-Antwerp region, Germany, Spain, Belgium, and Malta. Global energy majors, chemical manufacturers, and commodity trading firms utilizing these storage hubs will interface with a newly positioned multinational logistics operator managing significant cubic meter storage capacity and specialized vessel berths.
Market analysts note that the integration of a high-margin liquid storage platform diversifies revenue streams away from traditional dry bulk cargo and container handling. The acquired European terminal network demonstrates strong operational profitability, outperforming several domestic international port segments and reinforcing consolidated cash flow visibility for corporate bondholders and institutional equity investors.
