TLA advises on the sale of Spark Security services to Khidmah

Tribonian Law Advisors (TLA) has advised the sole shareholder of Spark Security Services – Sole Proprietorship LLC (Spark Abu Dhabi) and Spark Security Services – LLC Single Owner (Spark Dubai, and collectively, Spark Security), in relation to the sale of 100 per cent of the shares in the two companies to Khidmah Sole Proprietorship LLC (Khidmah), a subsidiary of Aldar Properties PJSC.

On September 1, 2022, Khidmah signed a share sale and purchase agreement with the sole shareholder of Spark Security to acquire 100 per cent of the share capital of Spark Abu Dhabi and Spark Dubai in an all-cash AED 125 million transaction. The transaction completed on October 7, 2022.

TLA’s team was led by partner Carlo Pianese, and assisted by senior associate Dhruv Agarwal and trainee solicitor Ahmed Bilal Khan.

Khidmah was advised by the Abu Dhabi office of Clyde & Co with a team led by partner Ross Barfoot and assisted by associate Julia Wolks.

Spark Security, which was established in 1974, is a leading provider of manned security guard services in the UAE. It employs over 5,000 security professionals and serves major organisations, and also provides security for a range of high-profile events, across the UAE.