EL7.AI
Mergers & AcquisitionsMedium•30 October 2026•
2 min read

Adani Ports Makes Binding Bid for EVOS, Owner of 8 European Storage Terminals

Key Facts

1EVOS operates 8 storage terminals with capacity of 6.4 million cubic meters across 7 ports in 5 European countries.
2Non-fossil fuels accounted for 27% of EVOS’s stored product mix in 2024, and storage capacity for renewable energy, biofuels and chemicals reached 1.7 million cubic meters.
3Adani Ports’ consolidated revenue rose 24% to 11,340 crore rupees in the second quarter of FY2027.
4Adani raised its FY2027 revenue guidance by 1,000 crore rupees to 44,000–46,000 crore.

Adani Ports has made a binding bid to acquire EVOS Terminals, the Economic Times reported, but the deal has not yet been decided. The bid is part of a competitive auction to buy the company from Igneo Infrastructure Partners, a subsidiary of First Sentier. A final decision is expected in the coming weeks. EVOS operates a network of 8 fuel storage terminals with total capacity of 6.4 million cubic meters. The terminals are spread across 7 major ports in 5 European countries, according to the company’s official website.

EVOS’s terminals handle a mix of petroleum products and fuels from non-fossil sources. Its listed products include sustainable aviation fuel, green naphtha, bioethanol, e-methanol and bio-marine fuel. The company says its terminals store bioethanol in Rotterdam, Amsterdam and Ghent. It also handles bio- and e-methanol in Rotterdam, Amsterdam, Ghent and Algeciras. In its 2024 sustainability report, EVOS said non-fossil fuels accounted for 27% of its stored product mix. It added that it had increased storage capacity for renewable energy, biofuels and chemicals to 1.7 million cubic meters.

Adani’s bid would potentially expand the company’s operations from ports into fuel storage and related logistics in Europe. Adani Ports CEO Ashwani Gupta said the company was evaluating liquid terminals, adding that “ports could become a gateway to the energy transition.” The company’s second-quarter FY2027 results showed growth in its core business, with consolidated revenue rising 24% year on year to 11,340 crore rupees. EBITDA increased 23% to 6,807 crore rupees. The company raised its FY2027 revenue guidance by 1,000 crore rupees to a range of 44,000–46,000 crore.

Adani’s international ports portfolio recorded revenue of 1,839 crore rupees and EBITDA of 878 crore in the second quarter of FY2027. The EBITDA margin was 47.7%, the company said. Adani raised its FY2027 EBITDA guidance by 1,000 crore rupees to a range of 26,000–27,000 crore. These indicators put the EVOS bid in the context of the company’s international expansion and improved results from its ports portfolio outside India. The deal decision remains subject to the outcome of the auction, which is expected to conclude in the coming weeks.