Transocean completes jackup fleet sale to Borr Drilling

Transocean completes jackup fleet sale to Borr Drilling

Offshore drilling contractor Transocean has completed a transaction to sell its entire jackup fleet to Borr Drilling for a total of $1.35bn.

The two companies signed a letter of intent for the deal in March.

The sale included Transocean’s 10 jackups in service and another 5 jackups under construction at Keppel FELS shipyard in Singapore.

Borr Drilling, which was formed by a clutch of former confidantes of John Fredriksen, completed a $800m equity offering in March to finance the deal.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.

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