Borr Drilling Agrees to Sell 51% Stake in Two Mexican Joint Ventures
Borr Drilling (BORR) has entered into an agreement to sell its 51% stake in two joint ventures located in Mexico. The transaction involves the sale of these stakes to Borr's long-standing local partner, marking a significant step toward full divestment from Perfomex. Once completed, this deal will result in Borr Drilling no longer holding any ownership interest in the Mexican operations. The move is part of Borr’s broader strategy to streamline its portfolio and focus on core markets where it can optimize performance and returns for shareholders. The company has not disclosed financial terms related to the sale but emphasized that this decision aligns with long-term strategic goals.
Tickers: $BORR
Topics: joint ventures Mexico oil drilling