GREEK containership owner danaos has exercised to acquire the remaining 51 per cent equity in its joint venture Gemini Shipholdings Corporation.
Gemini owns a fleet of five containerships employed on time charters with an aggregate capacity of 32,531 TEU.
The remaining stake is US$86.7 million, where the company expects a net cash outflow of $72.3 million, and a purchase price net of $14.4 million of Gemini cash balance.
Danaos will own 100 per cent of Gemini which will be consolidated within its financial results, where the contracted revenue is $160 million.
The Gemini vessels expected to contribute $31 million through June 30, 2022, where Gemini's total debt was $45 million and net debt was $30.6 million.
SeaNews Turkey
Gemini owns a fleet of five containerships employed on time charters with an aggregate capacity of 32,531 TEU.
The remaining stake is US$86.7 million, where the company expects a net cash outflow of $72.3 million, and a purchase price net of $14.4 million of Gemini cash balance.
Danaos will own 100 per cent of Gemini which will be consolidated within its financial results, where the contracted revenue is $160 million.
The Gemini vessels expected to contribute $31 million through June 30, 2022, where Gemini's total debt was $45 million and net debt was $30.6 million.
SeaNews Turkey
