Adani Ports and Special Economic Zone (APSEZ) has submitted a binding bid of $3.3 billion, equivalent to approximately €3 billion, to acquire Evos Terminals, a European liquid storage and terminal operator owned by Igneo Infrastructure Partners. The proposed acquisition is part of APSEZ's strategy to expand its international operations and strengthen its position in global port infrastructure and energy logistics.

Headquartered in Amsterdam, Evos operates eight tank terminals with a combined storage capacity of 6.4 million cubic metres across seven ports in five European countries. Its infrastructure supports the storage of conventional fuels, including gasoline, as well as alternative energy products such as biodiesel, sustainable aviation fuel, bioethanol, green naphtha, e-methanol and bio-marine fuels.

The acquisition could provide Adani Ports with greater exposure to Europe's energy storage and logistics infrastructure, particularly as global energy markets gradually transition towards alternative fuels. The company's interest in liquid terminals also reflects its broader ambition to diversify beyond conventional container and cargo-handling operations.

The bid comes after Adani Ports lost its pursuit of UK-based Associated British Ports to Australian superannuation fund IFM Investors in the previous week. Despite that setback, the company continues to evaluate international acquisition opportunities. Its management has indicated that approximately 20 potential assets, including ports and terminals, are being assessed as part of its overseas expansion strategy.

According to reports, several global investment firms and infrastructure operators had expressed interest in Evos during the competitive sale process. These included KKR, EQT, Macquarie and other institutional investors. Adani Ports submitted its binding offer earlier in the week, with a final decision on the transaction expected in the coming weeks.

The proposed transaction represents a substantial capital commitment for Adani Ports. Investors are likely to monitor the acquisition's valuation, financing structure, potential debt implications and expected returns if the bid is successful. The company's ability to integrate European operations and generate sustainable cash flows from the acquired infrastructure will be important considerations.

Meanwhile, shares of Adani Ports and Special Economic Zone declined approximately 1 percent following the development. The proposed acquisition remains subject to the outcome of the competitive bidding process, and no completion of the transaction has been announced.