Catalina Holdings completes acquisition of Quanta

By Jennifer Chiou

New York, Oct. 10 - Quanta Capital Holdings Ltd. announced that its acquisition by Catalina Holdings (Bermuda) Ltd. and its subsidiary, Catalina Alpha Ltd., wrapped up on Friday.

In May, Quanta agreed to be acquired by Catalina Holdings and Catalina Alpha for $2.80 cash per share, or about $197 million.

Also, Peter D. Johnson and Jonathan J.R. Dodd voluntarily resigned from their positions as executive officers of Quanta while all of the members of Quanta's board of directors also voluntarily resigned.

Brenda Lehmann, Dean Dwonczyk, Jens Juul, Chris Fagan and Johnson became directors of the amalgamated company, and officers include Fagan as chair, Johnson as chief executive officer, Chris Fleming as chief financial officer, Stephanie Kyme as secretary, Dwonczyk as actuary and Keith Lyon as general counsel.

On Sept. 30, all regulatory approvals had been obtained and Quanta shareholders approved the amalgamation agreement at a special meeting.

As a result of the amalgamation, Quanta will no longer remain listed on Nasdaq.

Quanta is a Hamilton, Bermuda, holding company with interests in specialty insurance and reinsurance that it is actively running off.

Catalina Holdings, also a Bermuda company, specializes in the acquisition and management of non-life insurance and reinsurance companies and portfolios in run-off.

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