Adani Ports, USA News: Gautam Adani’s flagship enterprise, Adani Ports and Special Economic Zone Limited (APSEZ), has submitted a binding offer to acquire liquid storage operator Evos Terminals. Sources familiar with the ongoing discussions stated that the move is aimed at cementing a key role in European sector consolidation, driven by rising geopolitical instability, regional energy security concerns, and recent West Asian conflicts impacting domestic port volumes.
Evos, a five-year-old Amsterdam-headquartered infrastructure asset owned by Igneo Infrastructure Partners—a subsidiary of the First Sentier Group—features a substantial storage capacity of 4 million cubic meters. The company reported an estimated EBITDA of 200 million for the year 2025. Its portfolio handles conventional motor fuels such as gasoline alongside alternative green products, including biodiesel, sustainable aviation turbine fuel, green naphtha, bio-ethanol, e-methanol, and bio-marine fuel. Existing concession agreements for Evos are scheduled to expire on November 1, 2028, without extension options.
Global Competition and Financing
Earlier this year, Igneo retained Morgan Stanley to manage a formal sale auction. The process drew significant interest from major financial sponsors such as KKR, EQT, Macquarie, Goldman Sachs Alternatives, and BlackRock, alongside pension funds like CPP Investments and industry operators including LBC Tank Terminals and Exolum. APSEZ submitted its binding proposal during a competitive auction earlier in the week, with a final decision anticipated over the coming weeks.
In July, Evos Finance BV successfully raised 950 million euros through a mix of private placement and bank loans to refinance existing debt, securing an investment-grade rating. CEO Harry Deans noted at the time that the financing structure supports the company’s long-term energy transition strategy.
Broader Global Strategy
The latest international tender follows a recent setback where Adani lost out to IFM in a 10 billion pound contest to acquire the UK-based Associated British Ports. During a recent earnings call, APSEZ CEO Ashwani Gupta reported that management is currently evaluating 20 assets globally, focusing primarily on container operations and liquid terminals to serve as future gateways for the energy transition.
Currently, APSEZ operates 15 domestic ports and terminals in India alongside four international facilities located in Israel, Tanzania, Sri Lanka, and Australia, handling more than 140 types of liquid cargo with a domestic cargo-handling capacity of 653 million metric tons.
