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Indian billionaire Gautam Adani’s Adani Ports and Special Economic Zone has agreed to acquire Dutch liquid storage operator Evos B.V. in a €2.56 billion ($2.88 billion) transaction, expanding its presence in Europe’s energy and logistics infrastructure market.
The Indian port operator announced on Nov 5 that it had entered into an agreement to acquire the entire shareholding of Evos from its existing owners, including funds managed by Igneo Infrastructure Partners. The transaction carries an enterprise value of €2.56 billion and an equity value of €1.18 billion.
The acquisition will give Adani Ports control of eight liquid storage terminals across the Netherlands, Germany, Spain, Belgium and Malta. Evos has storage capacity of 6.3 million cubic metres, with 452 tanks and 63 vessel and barge berths serving major European energy and industrial centres.
Evos handled 37 million metric tonnes of liquid products in 2025, including gasoline, diesel, marine fuels and jet fuel. Its operations also cover emerging energy products such as sustainable aviation fuel, biofuels, methanol and bioethanol.
The company generated revenue of €392 million and earnings before interest, taxes, depreciation and amortisation of €219 million in 2025, giving it an EBITDA margin of approximately 56%. Adani Ports said the business had average commercial occupancy of 99%, with a substantial portion of its revenue supported by long term customer contracts.
The transaction will be financed through debt, with Mitsubishi UFJ Financial Group acting as the sole underwriter and providing financing commitments of up to €2.8 billion. Adani Ports said the acquisition is subject to regulatory approvals and works council consultation, meaning the transaction has yet to be completed.
Following the acquisition, Adani Ports’ international network will expand to 28 ports and terminals across 10 countries. The company said the purchase would strengthen its liquid storage operations, diversify its geographic exposure and provide greater access to Europe’s changing energy market.
Adani Ports is part of the Adani Group, the conglomerate founded by Gautam Adani. The billionaire has built interests across ports, airports, power generation, renewable energy and infrastructure, making the group one of India’s largest business conglomerates.
The Evos acquisition adds a substantial European platform to the group’s international expansion strategy, while giving Adani Ports access to established storage facilities in some of the continent’s most important energy trading hubs.
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