Paragon Offshore

Borr Drilling Limited acquired Paragon Offshore Limited on March 29, 2018, after shareholders tendered more than 99% of the outstanding shares. As a result, Paragon Offshore Limited and its subsidiaries are now wholly owned by Borr Drilling.

Previously, Paragon Offshore plc underwent financial restructuring and emerged from U.S. Bankruptcy on July 18, 2017. Its operational business was transferred to the newly formed Paragon Offshore Limited, while the original entity, OldCo, continues to exist as a separate entity.

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