Adani Ports agrees to buy Dutch storage firm Evos for EUR 1,184 million
Adani Ports told the National Stock Exchange it has agreed to acquire 100% of Netherlands-based liquid storage operator Evos B.V. in an all-cash deal, subject to regulatory approvals.
Key points
- Adani Ports said in an NSE filing that it agreed on 5 November 2026 to buy 100% of Evos B.V., a Netherlands-based liquid storage operator.
- The filing gives an equity consideration of EUR 1,184 million in cash, subject to closing adjustments, with completion indicated within 15 months.
- The deal needs approvals in India and abroad, and the company says it will be funded by debt.
Photo: Breather breather / Wikimedia Commons, CC0 1.0 (cropped). Representational image.
Adani Ports and Special Economic Zone Limited (APSEZ) said in a filing with the National Stock Exchange on 5 November 2026 that it has agreed to acquire 100% of Evos B.V., a Netherlands-incorporated liquid storage operator, for an equity consideration of EUR 1,184 million in cash, subject to closing adjustments.
What Happened
According to the company's filing with the National Stock Exchange, APSEZ was selected as the successful bidder after a competitive bidding process and entered into an agreement on 5 November 2026. It will buy Evos together with its subsidiaries from F.S. Amelia S.a r.l. and Evos Manco B.V.
The filing says the equity consideration is EUR 1,184 million for the full stake. The company's media release puts the enterprise value, which includes debt, at EUR 2.56 billion, and says the deal will be funded by debt. It adds that MUFG is the sole underwriter and has given financing commitments of up to EUR 2.8 billion.
Evos's consolidated income was EUR 392 million in the year ended 31 December 2025, against EUR 367 million in 2024 and EUR 323 million in 2023. The media release says its EBITDA, a measure of operating profit, was EUR 219 million in 2025, a 56% margin.
The filing describes Evos as Europe's second-largest independent liquid storage operator, with eight port terminals in the Netherlands, Belgium, Germany, Spain and Malta and a storage capacity of 6.3 million cubic metres. It stores fuels such as gasoline, gasoil, marine fuels and jet fuel, and also biofuels, methanol and sustainable aviation fuel. The filing says Evos does not own the products it stores.
APSEZ said the target is not a related party and that no promoter or group company has an interest in it. The deal needs government and regulatory approvals in India and in the relevant foreign countries. The company gives an indicative completion period of 15 months from 5 November 2026.
What It Means
For shareholders of APSEZ, the filing shows a large overseas purchase that adds a business in Europe to the company's port portfolio. The company says its pro forma net debt-to-EBITDA ratio for the combined business, based on its FY26 and Evos's 2025 figures, would be 2.76 times.
The company also says its global footprint would rise to 28 ports and terminals across 10 countries. The deal has not closed. It remains subject to the approvals set out in the filing and to a works council consultation, a step required under Dutch employment practice, so the terms could change before completion.
Oquilia Data: Adani Ports and Special Economic Zone Ltd. (NSE: ADANIPORTS)
| Close, 4 Nov 2026 | Rs 1,910.00 (+2.31% on the day) |
|---|---|
| Return 1M / 3M / 6M / YTD / 1Y | +9.91% / +11.91% / +9.61% / +29.95% / +32.23% |
| Against Nifty 50, 1M / 3M / YTD | +3.05 / +14.57 / +38.25 points |
| 52-week closing high / low | Rs 1,910.00 (4 Nov 2026) / Rs 1,303.60 (23 Mar 2026) |
| Turnover, 20-session average | Rs 610.02 cr; 65.3% delivered; latest volume 1.3x |
Closes adjusted for splits and bonuses; returns exclude dividends. Facts from NSE's files, not investment advice.
Full record: Adani Ports and Special Economic Zone share price on Oquilia
Source: Company filing on NSE
Sources & Citations
- Company filing on NSE — National Stock Exchange of India