Adani Ports Makes Major Bid for Evos Terminals in 31000 Crore Euro Plan

3 billion dollars, which is over 31000 crore rupees. People familiar with the matter told ET that Gautam Adani's flagship company wants to play a key role in the consolidation of this sector. This is being done especially in Europe, where concerns regarding geopolitical instability and energy security have increased. Also, the ongoing conflict in West Asia has also impacted the group's domestic port volumes.

Five-Year-Old Evos And Its Strategic Assets

The five-year-old company Evos is owned by global asset manager Igneo Infrastructure Partners, which itself is a part of the First Sentier Group. 4 million cubic meters. This makes it a strategic asset for global port operators and marine infrastructure owners. In the year 2025, its EBITDA was estimated to be 200 million. Also, it has also been clarified that existing concession agreements won't be extended beyond their scheduled expiry date on November 1, 2028.

Multiple Global Companies Showed Interest

Its portfolio includes storage for motor fuels like gasoline as well as environmentally friendly alternatives such as biodiesel, sustainable aviation turbine fuel, green naphtha, bio-ethanol, e-methanol, and bio-marine fuel. Earlier this year, Igneo appointed Morgan Stanley to run a formal sale process. Several global contenders showed significant interest in this, including financial sponsors like KKR, EQT, special PE buyout groups like Macquarie, Goldman Sachs Alternatives, and BlackRock, pension funds like CPP Investments, and operators such as LBC Tank Terminals and Exolum.

Deal Expected to Finalize Soon

According to people familiar with the matter, APSEZ submitted a binding offer earlier this week under a competitive auction process. A final decision on this is expected in the coming weeks. Amsterdam-headquartered Evos raised 950 million euros in July through its financing branch Evos Finance BV, using it to refinance a major portion of its existing debt. The liquid storage operator structured the deal as a mix of private placement and bank loans, and also achieved an investment-grade rating in the process. At that time, company CEO Harry Deans said that this would help the company implement its strategy more effectively, opening new opportunities to grow business with clients during the energy transition era.

Recent Defeat Against IFM in UK Port Bid

Adani's overseas expansion push comes at a time when just last week, they faced defeat against IFM in the race to acquire UK's Associated British Ports for 10 billion pounds. On Wednesday, company management stated that they're evaluating 20 assets, including ports and terminals, as part of their global expansion plans. APSEZ CEO Ashwani Gupta said during an earnings call that our strength is containers, so we first look at where opportunities can be found through containers. We're also considering liquid terminals. In the future, ports can serve as a gateway for energy transition.

APSEZ Global Presence and Future Plans

APSEZ operates 15 ports and terminals in India, along with four international facilities in Israel, Tanzania, Sri Lanka, and Australia. It handles more than 140 types of liquid cargo. According to the company's recent operational disclosures, its domestic cargo-handling capacity is 653 million metric terms. Adani Group's marine platform, Astro Offshore, has contracted with Oceaneering International to strengthen its deepwater engineering and offshore execution capabilities in Europe. Along with this, APSEZ has entered special subsea operations in Europe.