Adani Ports bids $3.3bn for Evos Terminals in Europe
Adani Ports (APSEZ) is making a big play in Europe, bidding $3.3 billion to buy Evos Terminals, a company that stores liquid energy products across five countries.
This comes after APSEZ's last attempt to buy Associated British Ports (ABP) fell through, and shows it's serious about growing its global presence in the energy transition space.
The outcome of the bid should be out soon.
Evos refinanced €950 million debt
Evos, backed by Igneo Infrastructure Partners, brings 6.4 million cubic meters of storage and just refinanced €950 million in debt to boost its growth plans.
With ongoing global tensions affecting business at home, APSEZ sees this deal as key to staying ahead internationally.
CEO Ashwani Gupta said APSEZ's strength is containers, so the first thing it looks at is where opportunity is driven by containers, and it is also considering liquid terminals because ports tomorrow maybe a gateway to energy transition.
This is just one of 20 possible deals APSEZ is exploring as it looks to build up its international game.