TLA advises Emirates Driving Company on Mwasalat acquistion

Tribonian Law Advisors (“TLA”) has advised Emirates Driving Company (“EDC”) PJSC (ADX: DRIVE), a subsidiary of Multiply Group PJSC, on its agreement to acquire shares representing 22.5 per cent of the share capital of Mwasalat Holdings LLC, subject to completion of certain conditions and receipt of relevant regulatory approvals, with an option to increase its shareholding to 50.6 per cent.

Mwasalat Holdings LLC is an Abu Dhabi based holding company that houses several public transportation service providers, spanning public buses, taxis, school transportation and corporate vehicle services across the UAE.

This strategic investment is part of EDC’s ongoing efforts to strengthen its position as a mobility champion, accelerating innovation and expanding its role in delivering seamless, safe and sustainable transport across the UAE and wider region.

The TLA team was led by the firm’s partner, Emile Boulos, who was assisted by managing associate Dhruv Agarwal and associates Siwar Roumanos and Marita Karaky.

TLA’s managing partner, Rindala Beydoun, commented,“We are proud to have worked alongside EDC and Multiply Group on this successful transaction. Playing a key role in such transaction further highlights our deep M&A capabilities and our ability to deliver trusted advice on strategic matters that are critical to our clients’ growth.”

“The successful completion of this transaction will mark a significant milestone for both EDC and Mwasalat. It reflects not only the strong collaboration and commitment on all sides, but paves the way for substantial synergies that will drive-long term value and innovation in the mobility sector across the UAE,” said Emile Boulos.