Dubai, UAE, 9 July 2025 – 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% 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%.
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.
About Tribonian Law Advisors
Tribonian Law Advisors (TLA) was founded in 2012 and stands as a beacon of superior quality, unmatched expertise and exceptional client service in the Middle East legal market. At the helm is U.S.-qualified lawyer Rindala Beydoun with experience as a partner (including GCC managing partner) at leading US law firms and whose leadership pushes the boundaries of conventional legal practice. TLA specializes in Mergers & Acquisitions (M&A), Corporate Finance and Private Equity, areas in which our partners Carlo Pianese and Emile Boulos have accrued significant experience at leading international firms such as Allen & Overy, Herbert Smith Freehills and Vinson & Elkins. To learn more about TLA, please visit its website at www.t-lawadvisors.com
Contact details:
Hiba Mahdi
Phone: +971 4 597 9777
Email: hmahdi@t-lawadvisors.com
Website: www.t-lawadvisors.com