Adani Ports can absorb proposed Evos acquisition costs: S&P
Executive Brief • Key Highlights
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- ✓S&P Global Ratings said Adani Ports can absorb the costs of its proposed acquisition of Evos BV.
- ✓The agency noted, "The company can maintain its financials and credit quality after the acquisition." This deal helps Adani Ports diversify its liquids portfolio and expand its footprint into more developed international markets.
Story at a Glance
- Category
- Indian Markets
- Reported By
- The Economic Times
- Reading Speed
- 3 Minute(s)
- Market Focus
- India Economy
Synopsis
New Delhi: Adani Ports and Special Economic Zone will bolster the scale and diversity of its international portfolio through the proposed acquisition of Evos BV, S&P Global Ratings said Wednesday.
"The company can maintain its financials and credit quality after the acquisition of the liquid storage operator, in our view," the rating agency said in a statement.
"While Netherlands-headquartered Evos has limited operating synergies with Adani Ports' operations in India, the deal is consistent with the latter's growth strategy. It will allow Adani Ports to diversify its liquids portfolio with exposure to the growing market for new-age transition fuels such as sustainable aviation fuel, biofuels, methanol and bioethanol.
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The Economic Times
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