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OFFON

DANAOS CORPORATION

(DAC)
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Danaos Corporation acquired remaining 51% stake in Gemini Shipholdings Corporation from Virage International Ltd for $86.7 million.

07/01/2021 EDT

Danaos Corporation (NYSE:DAC) acquired remaining 51% stake in Gemini Shipholdings Corporation from Virage International Ltd for approximately $130 million on July 1, 2021. As per the transaction, Danaos Corporation will pay  approximately $72.3 million, which is the purchase price net of $14.4 million of the Gemini Shipholdings Corporation cash balance on June 30, 2021. Gemini's total debt and net debt, which will be assumed and consolidated by the Company, was $45 million and $30.6 million, respectively, as of June 30, 2021. The transaction is approved by Danaos Corporation board of directors. Clarksons Platou Securities acted as financial advisor to an independent committee comprised solely of independent and disinterested members of the Company's Board of Directors. Danaos Corporation (NYSE:DAC) completed the acquisition of remaining 51% stake in Gemini Shipholdings Corporation from Virage International Ltd on July 1, 2021.


ę S&P Capital IQ 2021
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Analyst Recommendations on DANAOS CORPORATION
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Financials (USD)
Sales 2021 618 M - -
Net income 2021 832 M - -
Net Debt 2021 1 185 M - -
P/E ratio 2021 1,88x
Yield 2021 2,70%
Capitalization 1 604 M 1 604 M -
EV / Sales 2021 4,52x
EV / Sales 2022 2,90x
Nbr of Employees 4
Free-Float 45,4%
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Mean consensus BUY
Number of Analysts 4
Last Close Price 77,87 $
Average target price 90,00 $
Spread / Average Target 15,6%
EPS Revisions
Managers and Directors
John Coustas Chairman, President & Chief Executive Officer
Evangelos Chatzis Chief Financial Officer & Secretary
Dimitris Vastarouchas Technical Director & Deputy COO
Iraklis Prokopakis COO, Treasurer, Director & Senior Vice President
Myles R. Itkin Independent Director