Walkers acts as BVI counsel to Kerogen's disposal of stake in Energean Israel Limited Walkers (London) has acted as British Virgin Islands (BVI) law counsel to Kerogen Investments No. 38 Limited ("Kerogen"), a part of the Kerogen Capital group, in relation to its entry into a sale and purchase agreement with its listed joint venture partner and project operator Energean plc ("Energean") for the sale of its 30% shareholding in Energean Israel Limited ("EISL").The total fixed consideration to be received by Kerogen for the sale will be between US$380 million and US$405 million depending on the timing of payment of the deferred consideration, and will include Kerogen retaining some ongoing participation through US$50 million of convertible loan notes. The transaction is conditional upon Energean shareholder, regulatory and other customary approvals with completion expected to occur in the first quarter of 2021. Upon completion, Energean will own 100% of EISL's share capital. Kerogen Capital is an independent private equity fund manager specialising in the international oil and gas sector, that manages over US$2 billion across multiple funds. Energean, a FTSE 250 company, is a London-based independent E&P company focused on developing resources in the Mediterranean. Partner, Neil McDonald, led the Walkers London team which acted as BVI law counsel to Kerogen, and was assisted by associates, Thomas Mawson and Tom Esler.Mr. McDonald commented that “it has been Walkers’ pleasure to have acted for Kerogen over the years in relation to its important investment in this leading E&P company and to see the significant progress that has been made in advancing the Karish and Tanin development project, offshore Israel". Mr. McDonald added that "the Walkers team is delighted to be acting for Kerogen on the sale of its stake in EISL and is fully focussed on assisting the Kerogen team in successfully concluding the transaction in the coming weeks".Walkers is the leading offshore law firm in London and provides time zone-sensitive advice to clients in the EMEA region requiring legal expertise on matters involving BVI and Cayman Islands law, so that clients have "real-time" access to our BVI and Cayman lawyers. Walkers (from its global network of ten international offices) also advises on Bermuda, Guernsey, Jersey (Channel Islands) and Irish law.