India's Adani Ports to buy Dutch storage operator Evos in a deal valued at $2.88 billion

Adani Ports to Acquire Europe’s Evos for $2.88 Billion in Expansion Drive

Adani Ports Expands Global Presence with Evos Acquisition

Acquisition Details and Strategic Rationale

BENGALURU, Nov 5 - India's Adani Ports and Special Economic Zone said on Thursday it would acquire Netherlands-based liquid storage operator Evos B.V. for an enterprise value of €2.56 billion ($2.88 billion).

The acquisition will give India's largest private port operator a sizeable European foothold as it seeks to build a globally diversified integrated transport platform.

Portfolio Diversification and Industry Impact

The deal will help Adani Ports scale and diversify its liquids portfolio and gain exposure to the long-term shift toward new-age fuels such as sustainable aviation fuel and biofuels, the firm said in a statement.

Market Reaction and Financial Structure

Adani Ports shares fell sharply after the announcement and closed 1.3% lower at 1,884.6 rupees.

The company will fund the deal, which has an equity value of €1.18 billion, via debt, and it is subject to regulatory and other approvals.

Evos: A Leading European Liquid Storage Operator

Evos is Europe's second-largest independent liquid storage operator with eight strategically located port-based terminals across the Netherlands, Germany, Spain, Belgium and Malta, Adani said. The Dutch firm's terminals are positioned in Europe’s most important energy and industrial hubs, it added. 

Adani Ports’ International Expansion Strategy

Adani Ports has been expanding its international footprint and transshipment capabilities, including at Vizhinjam in southern India and Colombo in Sri Lanka, as it seeks to capture a larger share of global container traffic.

Additional Information

($1 = 0.8880 euros)

(Reporting by Abinaya V in Bengaluru; Editing by Sonia Cheema)