Adani Ports places $3.3 billion bid for Evos Terminals; stock falls 1%
Evos, owned by Igneo Infrastructure Partners, operates eight tank terminals with a combined storage capacity of 6.4 million cubic metres across seven ports in five European countries
Shares of Adani Ports and Special Economic Zone fell 1.23% on Friday amid report of company submitting a binding offer of $3.3 billion (euro 3 billion) to acquire pan-European liquid storage and terminals operator Evos Terminals. The stock was trading at Rs 1,848.90 on the NSE, down Rs 23.10, as of 9:58 am. The Gautam Adani-led company is seeking to strengthen its presence in the global liquid storage and terminals sector, particularly in Europe, amid geopolitical volatility and growing concerns over energy security, The Economic Times reported, citing people familiar with the development.
