Adani Ports makes €3 billion bid for pan‑European liquid storage group
India’s leading port and logistics operator, Adani Ports and Special Economic Zone (APSEZ), announced a binding offer of $3.3 billion (approximately €3 billion) to acquire Evos Terminals, a pan‑European liquid storage and terminal operator. The proposal, submitted as part of a competitive auction, triggered a modest 1.23% decline in APSEZ shares, which were trading at ₹1,848.90 on the NSE shortly after the news broke.
Strategic rationale behind the bid
APSEZ, under the leadership of Gautam Adani, is seeking to broaden its footprint in the global liquid storage market, especially in Europe, where energy security concerns and geopolitical volatility have heightened demand for reliable storage capacity. Acquiring Evos would give Adani immediate access to eight tank terminals with a combined storage capacity of 6.4 million cubic metres across seven ports in five European countries.
Profile of Evos Terminals
- Owner: Igneo Infrastructure Partners
- Facilities: Eight tank terminals, 6.4 million m³ total capacity
- Geographic reach: Ports in the United Kingdom, France, Belgium, the Netherlands and Italy
- 2025 EBITDA estimate: €200 million
Competitive landscape
The auction has attracted a roster of global investors and infrastructure specialists, including private‑equity firms KKR and EQT, financial houses Macquarie, Goldman Sachs Alternatives, BlackRock, and Canada Pension Plan Investment Board (CPP Investments). A final decision on the preferred bidder is expected in the coming weeks.
Implications for Adani’s expansion drive
This bid follows a recent setback for Adani Ports, which lost its attempt to acquire UK‑based Associated British Ports (ABP) to the IFM Investors super‑annuation fund. Nonetheless, the company’s management confirmed that it is reviewing roughly 20 assets – ports, terminals and related logistics facilities – as part of a broader global expansion strategy.
Market reaction
While the share price dip was modest, analysts note that the move underscores Adani’s ambition to diversify beyond its core Indian operations and to capture value in the high‑margin European liquid storage segment. The outcome of the auction will be closely watched by industry observers, as it may reshape the competitive dynamics of terminal ownership in the region.
Source: Moneycontrol News, The Economic Times, ET