Dubai Taxi Company (DTC) has completed its acquisition of 100 percent of the share capital of National Taxi for $394.89 million (AED 1.45 billion), after securing all required regulatory approvals, including approvals from Dubai’s Roads and Transport Authority (RTA) and Abu Dhabi’s Integrated Transport Centre (ITC).
The acquisition strengthens Dubai Taxi Company’s position in the UAE’s taxi sector, increasing its market share in Dubai to approximately 59 percent while giving it an estimated 12 percent market share in Abu Dhabi. Following the transaction, the combined taxi fleet will exceed 9,500 vehicles across the UAE, making DTC the country’s largest taxi operator.
Dubai Taxi Company said that the acquisition is expected to be earnings accretive from the first full year of ownership, with additional upside from operational synergies while maintaining its dividend profile.
“The successful completion of the acquisition of National Taxi is the first transformational acquisition since our IPO and an important moment in our long-term growth strategy. National Taxi strengthens our leadership position in Dubai, establishes a meaningful presence in Abu Dhabi and creates a leading multi-emirate mobility platform with greater scale and reach. Our focus now turns to integrating National Taxi into the DTC Group and delivering the substantial strategic and financial benefits of the transaction to create long-term value for our shareholders.”
The final consideration was $394.89 million (AED 1.45 billion), reflecting the agreed locked-box adjustment mechanism under the Sale and Purchase Agreement (SPA). For the year ended July 2025, National Taxi reported revenue of $210.76 million (AED 774 million) and EBITDA of $49.82 million (AED 183 million). The company operates a fleet of more than 2,700 vehicles.
