Paratus to sell Fontis jack-up business for USD 400 million to Borr Drilling and CME

Reuters05:48

Paratus to sell Fontis jack-up business for USD 400 million to <a href="https://laohu8.com/S/BORR">Borr Drilling</a> and CME

Paratus agreed to sell Fontis’ drilling operations and jack-up fleet to Borr Drilling and CME through two inter-conditional transactions.
Fontis’ Mexican operations are to be acquired by CME for cash, while a CME-Borr joint vehicle is to acquire Fontis’ Singapore rig-owning entities for cash and seller’s credit.
The deal values Fontis at USD 400.0 million, comprising USD 148.0 million cash at closing and USD 15.0 million deferred consideration.
Consideration also includes a USD 237.0 million non-recourse seller’s credit with a 2.5-year term and interest stepping from 10% to 14%.
Closing is expected in H2 2026, subject to bondholder consent and competition clearance in Mexico.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Paratus Energy Services Ltd. published the original content used to generate this news brief via Cision (Ref. ID: 20260323:BIT:9302:0) on March 23, 2026, and is solely responsible for the information contained therein.

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