Adani Ports strikes 2.56 bn Euro deal to acquire Evos

New Delhi: Adani Ports and Special Economic Zone Limited (APSEZ) on Thursday said it will acquire a 100 per cent stake in the Netherlands-based Evos B.V. (Evos), Europe's second-largest independent liquid storage operator, from Igneo Infrastructure Partners at an enterprise value of 2.56 billion euros.

India's largest port operator, in a statement, said the proposed transaction is an all-cash deal and values Evos at an equity value of 1.18 billion euros, implying an acquisition multiple of 11.7x CY25 EV/EBITDA.

For the calendar year 2025, Evos delivered revenue and EBITDA of 392 million euros and 219 million euros, respectively (56 per cent EBITDA margin), APSEZ added.

APSEZ further said the transaction will be funded via debt and is subject to regulatory and other approvals and works council consultation. APSEZ managing director Karan Adani said, "We are delighted to welcome Evos into our portfolio, giving us significant presence across key global liquid storage and energy hubs."

ABOUT THE AUTHOR

The Hans India