The acquisition will give India's largest private port operator a sizeable European foothold as it seeks to build a globally diversified integrated transport platform.
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The deal will help Adani Ports scale and diversify its liquids portfolio and gain exposure to the long-term shift toward new-age fuels such as sustainable aviation fuel and biofuels, the firm said in a statement.
Adani Ports shares fell sharply after the announcement and closed 1.3% lower at 1,884.6 rupees.
The company will fund the deal, which has an equity value of €1.18 billion, via debt, and it is subject to regulatory and other approvals.
Evos is Europe's second-largest independent liquid storage operator with eight strategically located port-based terminals across the Netherlands, Germany, Spain, Belgium and Malta, Adani said. The Dutch firm's terminals are positioned in Europe’s most important energy and industrial hubs, it added.
Adani Ports has been expanding its international footprint and transshipment capabilities, including at Vizhinjam in southern India and Colombo in Sri Lanka, as it seeks to capture a larger share of global container traffic.
($1 = 0.8880 euros)
Reporting by Abinaya V in Bengaluru; Editing by Sonia Cheema
