Jahez Expands with 76% Stake in Qatari Tech Firm Snoonu

Saudi-based Jahez Group has signed an agreement to acquire a 76.56% stake in Snoonu, a leading technology company in Qatar, for a transaction valued at USD 245 million. The strategic acquisition is expected to unlock technological and operational synergies and marks Jahez's entry into the Qatari market, supporting its expansion across the GCC. The deal, expected to close in the second half of 2025 pending regulatory approval, will see Jahez acquiring the majority of Snoonu's shares through a combination of cash and share offerings. Jahez will purchase 75% of Snoonu's share capital for USD 225 million and subscribe to newly issued shares representing a further 1.56% stake for an additional USD 20 million. The acquisition positions both companies for accelerated growth in the e-commerce, delivery, and logistics sectors within the region. Snoonu's strong market position is bolstered by significant growth in gross merchandise value and profitability. The merger is anticipated to enhance the strategic capabilities of both companies, allowing them to offer enhanced services and reach in the GCC. The transaction involves financial advisory by EFG Hermes KSA and legal advisory from Kirkland & Ellis for Jahez, with Eversheds Sutherland representing Snoonu.