분사구문인지 확인 부탁드려요

“There was a large white limousine and a number of his friends, all holding red, white and blue balloons.”라는 문장이 있어요.
원래 “There was a large white limousine and a number of his friends, as all held red, white and blue balloons.”였다면, 주어가 달라서 all을 남기고 분사구문으로 바꾼 것으로 볼 수 있나요?