Cleary Gottlieb is representing Citigroup Global Markets Inc. in its capacity as financial advisor to Quintana Maritime Limited, which is being acquired by Excel Maritime Carriers Ltd. for $2.45 billion in cash and stock.
Quintana, based in Greece, is an international provider of dry bulk cargo marine transportation services. Quintana currently operates a fleet of 29 vessels with a total carrying capacity of 2,644,043 DWT tons.
Excel is an owner and operator of dry bulk carriers and a provider of worldwide seaborne transportation services for dry bulk cargoes such as iron ore, coal and grains. Excel’s current fleet consists of 18 vessels with a total carrying capacity of 1,074,022 DWT tons.