A joint venture set up by Danaos Corp six years ago to bypass acquisition constraints imposed by lenders has returned to the company’s fold.
The US-listed containership company announced in a statement late on Thursday that it has spent $86.7m in cash to buy the remaining 51% of Gemini Shipholdings — an owner of five post-panamax containerships.
That holding was controlled by members of the family of Danaos chief executive John Coustas.
