Dubai Taxi Company (DTC) has entered into a Sales and Purchase Agreement (SPA) to acquire 100 percent of the share capital of National Taxi for a total Enterprise Value of $394 million (AED1.45 billion), funded through new bank debt facilities.
Upon completion, the transaction is expected to solidify Dubai Taxi Company’s leadership in Dubai, raising its market share from 47 percent to around 59 percent. It will also establish a significant presence in Abu Dhabi with a 12 percent market share, creating new opportunities for continued growth.
The final consideration is subject to adjustment in accordance with the terms of the SPA, as per the statement.
Abdul Muhsen Ibrahim Kalbat Group Chairman Dubai Taxi Company
“This acquisition represents an important strategic milestone for Dubai Taxi Company, strengthening our leadership position in Dubai while establishing a meaningful presence in Abu Dhabi. National Taxi is a well-established and high-quality operator with a strong financial profile, and this acquisition allows us to expand our platform, enhance scale, and position the business for long-term growth. Dubai has been the foundation of everything Dubai Taxi Company has built, and we remain as confident as ever in its long-term trajectory. The UAE’s fundamental strengths in attracting investment, talent, and visitors continue to underpin sustained demand for mobility services. This acquisition is a direct expression of that conviction, and of our commitment to growing Dubai Taxi Company into a platform worthy of the city and country it serves.”
Toufic Mitri, Managing Director at National Taxi, stated that, “National Taxi has been a prominent taxi operator in Dubai and Abu Dhabi for 26 years. Throughout the past two decades, the company has consistently experienced steady growth, adopted new technologies, and received multiple accolades.”
“In the past year, we appointed Emirates NBD Capital Limited and Lazard Gulf Limited, who undertook a competitive process to assess investor interest for the potential acquisition of National Taxi, attracting attention from investors across North America, Europe, the Middle East, and Central Asia. Ultimately, Dubai Taxi Company submitted the most compelling proposal, and we are confident that Dubai Taxi Company will guide National Taxi through its next phase of development,” Mitri added.
The transaction is expected to complete in the early third quarter of 2026, subject to the satisfaction of customary conditions precedent and receipt of regulatory approvals, including approval from RTA and ITC.
There can be no assurance that the proposed acquisition will be completed as proposed, or at all. DTC will continue to engage with relevant stakeholders, including regulators, investors, and employees, throughout the process and will provide further material updates as appropriate, as per the statement.
