Paratus Energy Receives Competition Clearance for Fontis Sale
Paratus Energy Services Ltd. has received approval from the Mexican competition authority to finalize the sale of Fontis' drilling operations and jack-up fleet.
Paratus Energy Services Ltd. announced on Wednesday that it has received clearance from the Mexican competition authority to proceed with the completion of the sale of Fontis. The company had initially announced the sale of Fontis' drilling operations and offshore fleet in March 2026.
The transaction's closing is still subject to remaining customary conditions and processes. Paratus Energy expects the transaction to be finalized during the third quarter of 2026. Further updates will be provided as necessary.
Paratus Energy Services Ltd. operates as an investment holding company in the energy services sector. The group's assets include Fontis Energy, which operates five high-specification jack-up rigs in Mexico, and a 50% joint venture interest in Seagems, a subsea services company with six vessels in Brazil.