NEW DELHI: Adani Ports and Special Economic Zone (APSEZ) has agreed to acquire 100% of Netherlands-based Evos BV from Igneo Infrastructure Partners at an enterprise value of $2.9bn, marking a major expansion of its international operations and giving it a significant presence in Europe’s liquid storage and energy infrastructure market.The proposed all-cash transaction values Evos at an equity value of $1.3bn and an enterprise value-to-ebitda multiple of 11.7 times based on its calendar year 2025 financial performance, APSEZ said in a statement.The acquisition will give APSEZ control of eight port-based liquid storage terminals across the Netherlands, Germany, Spain, Belgium and Malta.Evos, Europe’s second-largest independent liquid storage operator, has a total storage capacity of 6.3 million cubic metres and handled 37 million tonne of throughput in CY25. It reported a revenue of $440 million and ebitda of $246 million during the year, translating into an ebitda margin of 56%.The acquisition will expand APSEZ’s global network to 28 ports and terminals across 10 countries, strengthening its position as an integrated transport and logistics operator while diversifying its exposure across geographies and cargo segments.The transaction will be funded through debt and is subject to regulatory and other approvals, as well as works council consultation. MUFG is the sole underwriter and has provided financing commitments of up to $3.2 billion for the proposed acquisition.Evos operates eight terminals with 452 storage tanks, 63 vessel and barge berths and multiple pipeline connections across five European countries. Its facilities are located in major energy and industrial centres.
