ADANI PORTS TO ACQUIRE EVOS FOR $2.88 BILLION

ADANIPORTS Adani Ports and Special Economic Zone Ltd is set to acquire a 100% stake in Netherlands-based liquid storage operator Evos B.V. from Igneo Infrastructure Partners for an enterprise value of $2.88 billion, marking a major step in the company's global expansion strategy. The proposed all-cash transaction values Evos at an equity value of 1.18 billion euros, or around Rs 12,551 crore. The acquisition implies an enterprise value-to-EBITDA multiple of 11.7 times based on Evos' CY25 financial performance. Evos reported revenue of approximately Rs 4,168 crore and EBITDA of around Rs 2,329 crore in calendar year 2025, translating into a strong EBITDA margin of nearly 56%. APSEZ said the acquisition would be funded through debt and remains subject to regulatory and other approvals, along with consultations with the relevant works councils. The company said the transaction represents an important milestone in its ambition to handle 1 billion tonnes of cargo and build a globally integrated transport platform. The acquisition will establish a significant presence for APSEZ in Europe while expanding and diversifying its liquid storage operations. The deal will also provide exposure to the long-term transition towards new-age fuels and strengthen the company's position across key global energy and liquid storage hubs. According to APSEZ, Evos will bring high-margin and predictable foreign currency cash flows, supported by take-or-pay revenue arrangements and consumer price index -linked contracts. These features are expected to improve the quality, resilience and geographical diversification of APSEZ's earnings.