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DLA Piper advises OCB as Gulf Capital takes majority stake

United Arab Emirates: Monday, March 04 - 2013 @ 12:02

OCB currently has operations across the Gulf, Southeast Asia and Africa supplying personnel to offshore drilling companies and the founder, Vaibhav Kanade, will remain Chief Executive Officer to support the company through its next stage of development.

“This is a significant deal as it allows OCB to progress its expansion plans across Africa and Southeast Asia where there are a plethora of opportunities,” commented Jayshree Gupta, Senior Advisor at DLA Piper Middle East who led the deal. “The deal underpins the success and strength of OCB’s business and its attractiveness to investors and we were delighted to have supported the international expansion of a local company.”

Vaibhav Kanade, Founder and CEO of OCB added: “As OCB embarks on an aggressive international expansion, the funding and support of Gulf Capital will be instrumental in helping us achieve our ambitious regional growth plans. From start to finish, DLA Piper offered first-class legal support and acted as a trusted adviser throughout the lifespan of the deal and we look forward to working with Jayshree and her team in the future.”

DLA Piper has a strong presence across the Middle East region, with offices in all six GCC countries as well as a group firm in Egypt and a presence in Iraq. A global firm with 4,200 lawyers in more than 30 countries, DLA Piper is well-positioned to help companies with their legal needs anywhere in the world.

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Monday, March 4- 2013 @ 12:02 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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