Dubai Taxi Company PJSC (DTC) has announced plans to acquire 100% of the share capital of National Taxi LLC in a deal valued at AED1.45 billion ($394.8 million), marking a major step in the company’s regional expansion strategy.

The acquisition, which will be funded through new bank debt facilities, is expected to strengthen DTC’s leadership position in Dubai while significantly expanding its footprint into Abu Dhabi. The final consideration remains subject to adjustment in accordance with the terms of the Sales and Purchase Agreement (SPA).

Once completed, the transaction is projected to increase DTC’s market share in Dubai from 47% to approximately 59%. It will also establish a meaningful presence in Abu Dhabi, where the company is expected to secure a 12% market share, creating new opportunities for long-term growth in the UAE’s mobility sector.

Commenting on the acquisition, Abdul Muhsen Ibrahim Kalbat, Group Chairman of DTC, described the move as a strategic milestone for the company.

“This acquisition represents an important strategic milestone for DTC, strengthening our leadership position in Dubai while establishing a meaningful presence in Abu Dhabi,” he said. “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.”

Kalbat added that Dubai remains central to DTC’s long-term growth ambitions, highlighting the UAE’s ability to attract investment, talent, and tourism as key drivers of sustained demand for mobility services.

“This acquisition is a direct expression of that conviction, and of our commitment to growing DTC into a platform worthy of the city and country it serves,” he added.

DTC Group CEO Mansoor Rahma Alfalasi said the acquisition is expected to strengthen the company both strategically and operationally.

“The acquisition of National Taxi is a strong strategic and operational fit for DTC, enhancing our scale and strengthening our market position,” he said. “The transaction is expected to be earnings accretive from the first full year of ownership, with further upside expected from procurement optimization, centralized maintenance and disciplined integration over time.”

Alfalasi also emphasized that the transaction aligns with DTC’s disciplined approach to capital allocation, noting that the acquisition will not involve any equity dilution.

“The transaction has also been structured in line with our disciplined strategic approach to capital allocation with no equity dilution and a continued focus on balance sheet strength,” he said. “In line with our five-year strategy, we remain committed to delivering sustainable growth while maintaining an attractive dividend profile for our shareholders and a healthy leverage profile.”

National Taxi, which has operated in Dubai and Abu Dhabi for 26 years, said the company attracted significant international investor interest during the sale process.

Toufic Mitri, Managing Director at National Taxi, said the company appointed Emirates NBD Capital Limited and Lazard Gulf Limited to oversee a competitive process evaluating potential acquisition proposals from investors across North America, Europe, the Middle East, and Central Asia.

“Ultimately, DTC submitted the most compelling proposal, and we are confident that DTC will guide National Taxi through its next phase of development,” he said.

The transaction is expected to close in early Q3 2026, subject to customary conditions and regulatory approvals, including approvals from Dubai’s Roads and Transport Authority (RTA) and Abu Dhabi’s Integrated Transport Center (ITC).