07-07-2025
Emirates Driving Company to acquire 22.5% stake in Mwasalat Holding
A. SREENIVASA REDDY (ABU DHABI)
Emirates Driving Company (EDC) has agreed to acquire a 22.5% stake in Mwasalat Holding, a mobility provider based in Abu Dhabi.
In a stock market disclosure, Khaled Al Shemeili, Chief Executive Officer of EDC, said the company has the option to increase its shareholding in Mwasalat Holding to 50.6%, subject to completion of certain conditions and regulatory approvals. However, the stock market statement has not disclosed the cost of the acquisition.
'This strategic investment is part of the company'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 CEO's statement said.
Mwasalat Holding, which is headquartered in Abu Dhabi, operates a diverse fleet spanning public buses, taxis, school transportation, and corporate vehicle services.
'This investment aligns with the company's long-term strategy to create operational synergies, enhance profitability, and endorse its commitment to delivering innovative, safe, and sustainable mobility solutions,' the CEO elaborated on the rationale behind this investment.
According to a company statement, the transaction is expected to unlock significant operational synergies and long-term value creation, broadening EDC's portfolio in line with its future-focused mobility vision.
'Together with Mwasalat, we will deliver a superior customer experience through digital platforms, AI-driven solutions, and seamless multi-modal transport, setting a new standard for smart mobility,' said Al Shemeili. 'Innovation is no longer a choice in the mobility sector – it is a strategic imperative. This investment in Mwasalat reflects our commitment to shaping the future of transportation by combining advanced technologies with operational excellence.'
Mwasalat generated over Dh650 million in revenue in 2024 and has built a strong reputation for safety, innovation, and reliability. It delivers accessible and efficient transport services that play a vital role in urban mobility across the emirates.
Omeir Al Mheiri, Managing Director at Mwasalat Holding, welcomed the partnership. 'By combining our shared commitment to smart mobility, sustainability, digital transformation and public service excellence, we will unlock significant opportunities to enhance service delivery, operational efficiency, and customer satisfaction,' he said.
EDC is a subsidiary of Multiply Group and has a market capitalisation of around Dh3 billion. Established in 2000, it is the leading provider of pre-licensing driver education in Abu Dhabi.
