Dubai Taxi Co Wraps Up AED1.45 Billion Purchase of National Taxi

Dubai Taxi Co (DFM:DTC) completed its 1.45 billion-Emirati-dirham acquisition of National Taxi, following receipt of all required regulatory approvals. The company said Wednesday that the deal makes it the largest taxi operator in the United Arab Emirates, with a combined taxi fleet of over 9,500 vehicles. The deal, announced in May, is expected to be earnings accretive starting from the first full year of ownership, with further upside anticipated from identified operational synergies.