BENGALURU: India's Adani Ports and Special Economic Zone said on Thursday it would acquire Netherlands-based liquid storage operator Evos BV in a deal valued at €2.56 billion ($2.88 billion).
The acquisition will give India's largest private port operator a significant presence in Europe as it seeks to build a globally diversified, integrated transport platform.
The deal will help Adani Ports expand and diversify its liquid storage portfolio while providing exposure to emerging fuels, including sustainable aviation fuel and biofuels, the company said in a statement.
Evos is Europe's second-largest independent liquid storage operator, with eight port-based terminals across the Netherlands, Germany, Spain, Belgium and Malta. Its facilities are located in some of Europe's key energy and industrial hubs.
The acquisition has an equity value of €1.18 billion and will be funded through debt. It remains subject to regulatory and other approvals.
Adani Ports shares fell 1.3% to close at 1,884.6 rupees following the announcement.
The company has been expanding its international presence and transhipment capabilities, including through developments at Vizhinjam in southern India and Colombo in Sri Lanka, as it seeks to capture a larger share of global container traffic. — Reuters
Oman Observer is now on the WhatsApp channel. Click here
