Catalina Holdings (Bermuda) Ltd (“Catalina”) and its wholly owned subsidiary Catalina Alpha Ltd entered into a definitive amalgamation agreement on May 30, 2008 to acquire Quanta Capital Holdings Ltd (“Quanta”). Quanta is a Bermuda holding company, listed on NASDAQ, with interests in specialty insurance and reinsurance that it is actively running off. Catalina will maintain Quanta’s offices in Bermuda, Ireland and the United States.
Pursuant to the amalgamation agreement, Catalina agreed to acquire Quanta in a transaction valued at approximately $197 million, representing $2.80 per share in cash for Quanta’s common shareholders, which in turn represents a 55% premium to the volume-weighted average sale price per share over the 30 calendar days ending May 29, 2008.
July 2007- Catalina Holdings (Bermuda) Ltd raises over $340 million of committed equity capital from four institutional investors- Royal Bank of Scotland, Nomura International, Caisse de depot et placement du Quebec and Century Capital – and from its executive management team.