Dubai Taxi Company to Acquire National Taxi in AED1.45 Billion Deal

Dubai Taxi Company PJSC (DTC) has announced that it has signed a Sales and Purchase Agreement (SPA) to acquire 100% of the share capital of National Taxi LLC for a total enterprise value of AED1.45 billion, funded through new bank debt facilities. The final consideration remains subject to adjustments in line with the terms of the agreement.

Once completed, the acquisition is expected to strengthen DTC’s position in Dubai, increasing its market share from 47% to around 59%, while also establishing a presence in Abu Dhabi with a 12% market share, creating new opportunities for growth.

Commenting on the acquisition, DTC Group Chairman Abdul Muhsen Ibrahim Kalbat said the deal marks a strategic milestone for the company, reinforcing its leadership in Dubai while expanding into Abu Dhabi. He described National Taxi as an established operator with a strong financial profile, adding that the acquisition would help enhance scale and support long-term growth.

“Dubai has been the foundation of everything DTC has built, and we remain highly confident in its long-term trajectory,” Kalbat said. “The UAE’s strengths in attracting investment, talent and visitors continue to support sustained demand for mobility services. This acquisition reflects that conviction and our commitment to growing DTC into a platform worthy of the city and country it serves.”

DTC Group CEO Mansoor Rahma Alfalasi said the acquisition is strategically and operationally aligned with DTC’s growth plans, noting that the transaction is expected to be earnings accretive from the first full year of ownership. He added that additional upside is anticipated through procurement optimisation, centralised maintenance, and integration efficiencies over time.

Alfalasi also noted that the transaction has been structured with no equity dilution while maintaining a focus on balance sheet strength, sustainable growth, and shareholder returns.

National Taxi Managing Director Toufic Mitri said the company has operated in Dubai and Abu Dhabi for 26 years, consistently recording growth, adopting new technologies, and earning industry recognition. He added that a competitive process conducted by Emirates NBD Capital Limited and Lazard Gulf Limited attracted interest from investors across North America, Europe, the Middle East, and Central Asia, with DTC ultimately presenting the strongest proposal.

The transaction is expected to close in early Q3 2026, subject to regulatory approvals and customary conditions, including approvals from the RTA and ITC.

Dubai Taxi Company has appointed Alvarez & Marsal Middle East Corporate Finance as exclusive financial advisor and DLA Piper as legal advisor, while National Taxi appointed Emirates NBD Capital Limited and Lazard Gulf Limited as financial advisors, alongside White & Case LLP as legal advisor.