Logo ofJahez International Company for Information System Technology
Jahez International Company for Information System Technology signed a share purchase and subscription agreement (SPSA) for the acquisition of a 76.56% stake in Snoonu Corporation Holding LLC, according to a statement to Tadawul. 
The deal included no related parties, the statement added.
Jahez will purchase 8.14 million shares, or 75% of the share capital of Snoonu, from the existing shareholders and will subscribe to 723,960 newly-issued shares in Snoonu, representing an additional 1.56% of the share capital.
Therefore, Jahez will be owning 76.56% of Snoonu’s share capital and Snoonu founder Hamad Mubarak Al Hajri, will own the remaining 23.44%, the statement added.
In addition, Jahez will pay $214 million (SAR 802 million) in cash to the current shareholders of Snoonu, and 1.54 million common shares held as treasury shares by Jahez, or 0.73% of its share capital, will be transferred and allocated to Hamad Mubarak Al-Hajri.
Jahez will then inject $20 million (SAR 75 million) into Snoonu as part of the subscription to the newly issued shares.
The agreement entails the customary terms, conditions, and warranties typically associated with such transactions. Completion of the transaction remains subject to fulfilling several conditions, including obtaining the necessary regulatory approvals and the approval of Jahez’s extraordinary general meeting (EGM) to utilize treasury shares for the share swap, among other provisions stipulated in the agreement. The designated shares in Jahez will be allocated to Hamad Mubarak Al-Hajri upon completion of the transaction and after the expiry of regulatory lock-up periods in accordance with Capital Market Authority (CMA) regulations.
Jahez and Hamad Mubarak Al-Hajri have also entered into a shareholder agreement, which will come into effect upon the completion of the transaction, to govern the post-closing corporate governance of Snoonu. Under the terms of the agreement, a new board of directors will be formed for Snoonu, comprising four members: three appointed by Jahez (including the Chairman), and one appointed by the founder, Al-Hajri.
The transaction parties include Jahez, Snoonu, Snoonu’s existing shareholders, Hamad Mubarak Al-Hajri, Snoonu Investment Holding LLC, Saud Al-Atiyah, Abdulaziz Al-Atiyah, and Yellow Services Co.
Jahez stated that the transaction will be financed through internal cash resources, bank facilities, and treasury shares held by the company.
Snoonu is a Qatar-based technology and logistics company operating an integrated e-commerce and on-demand delivery platform. Founded in 2019 by Hamad Mubarak Al-Hajri, Snoonu enables consumers to order food, groceries, and retail products, and provides third-party logistics solutions catering to the needs of startups and SMEs.
Snoonu three-year financial statements (SAR)
Year
Revenue
Net profit
2022
SAR 150 mln
SAR 19 mln
2023
SAR 263 mln
SAR 16 mln
2024
SAR 526 mln
SAR 28 mln
The acquisition aligns with Jahez strategic objective to expand its regional footprint and strengthen its presence in the Qatari market. The strong market position and operational capabilities of Snoonu are viewed as complementary to Jahez’s platform. The deal is expected to unlock operational synergies and drive greater integration in the market.
Jahez confirmed that any material developments related to the transaction will be disclosed in a timely manner.
Logo ofJahez International Company for Information System Technology
Jahez International Company for Information System Technology signed a share purchase and subscription agreement (SPSA) for the acquisition of a 76.56% stake in Snoonu Corporation Holding LLC, according to a statement to Tadawul.
The deal included no related parties, the statement added.
Jahez will purchase 8.14 million shares, or 75% of the share capital of Snoonu, from the existing shareholders and will subscribe to 723,960 newly-issued shares in Snoonu, representing an additional 1.56% of the share capital.
Therefore, Jahez will be owning 76.56% of Snoonu’s share capital and Snoonu founder Hamad Mubarak Al Hajri, will own the remaining 23.44%, the statement added.
In addition, Jahez will pay $214 million (SAR 802 million) in cash to the current shareholders of Snoonu, and 1.54 million common shares held as treasury shares by Jahez, or 0.73% of its share capital, will be transferred and allocated to Hamad Mubarak Al-Hajri.
Jahez will then inject $20 million (SAR 75 million) into Snoonu as part of the subscription to the newly issued shares.
The agreement entails the customary terms, conditions, and warranties typically associated with such transactions. Completion of the transaction remains subject to fulfilling several conditions, including obtaining the necessary regulatory approvals and the approval of Jahez’s extraordinary general meeting (EGM) to utilize treasury shares for the share swap, among other provisions stipulated in the agreement. The designated shares in Jahez will be allocated to Hamad Mubarak Al-Hajri upon completion of the transaction and after the expiry of regulatory lock-up periods in accordance with Capital Market Authority (CMA) regulations.
Jahez and Hamad Mubarak Al-Hajri have also entered into a shareholder agreement, which will come into effect upon the completion of the transaction, to govern the post-closing corporate governance of Snoonu. Under the terms of the agreement, a new board of directors will be formed for Snoonu, comprising four members: three appointed by Jahez (including the Chairman), and one appointed by the founder, Al-Hajri.
The transaction parties include Jahez, Snoonu, Snoonu’s existing shareholders, Hamad Mubarak Al-Hajri, Snoonu Investment Holding LLC, Saud Al-Atiyah, Abdulaziz Al-Atiyah, and Yellow Services Co.
Jahez stated that the transaction will be financed through internal cash resources, bank facilities, and treasury shares held by the company.
Snoonu is a Qatar-based technology and logistics company operating an integrated e-commerce and on-demand delivery platform. Founded in 2019 by Hamad Mubarak Al-Hajri, Snoonu enables consumers to order food, groceries, and retail products, and provides third-party logistics solutions catering to the needs of startups and SMEs.
Snoonu three-year financial statements (SAR)
Year
Revenue
Net profit
2022
SAR 150 mln
SAR 19 mln
2023
SAR 263 mln
SAR 16 mln
2024
SAR 526 mln
SAR 28 mln
The acquisition aligns with Jahez strategic objective to expand its regional footprint and strengthen its presence in the Qatari market. The strong market position and operational capabilities of Snoonu are viewed as complementary to Jahez’s platform. The deal is expected to unlock operational synergies and drive greater integration in the market.
Jahez confirmed that any material developments related to the transaction will be disclosed in a timely manner.
