Riyadh – Sharikat Mubasher: Saudi delivery platform Jahez signed a share purchase and subscription agreement (SPSA) to acquire a controlling 76.56% stake in Qatar-based Snoonu Corporation Holding LLC, according to a statement on Tadawul.
The deal, valued at $214 million (SAR 802 million) in cash, includes the purchase of 8.14 million existing shares (75% stake) and a subscription to 723,960 new shares (1.56% stake). Post-acquisition, Snoonu founder Hamad Mubarak Al-Hajri will retain a 23.44% ownership.
Jahez will also allocate 1.54 million of its treasury shares—equivalent to 0.73% of its capital—to Al-Hajri, and inject an additional $20 million (SAR 75 million) into Snoonu.
The transaction remains subject to regulatory approvals and shareholder consent at Jahez’s upcoming EGM. A shareholder agreement between Jahez and Al-Hajri will take effect upon closing, establishing a new four-member board for Snoonu, with three seats assigned to Jahez.
Founded in 2019, Snoonu is a leading Qatari e-commerce and logistics platform with 2024 revenue of SAR 526 million. The acquisition is set to bolster Jahez’s regional footprint and drive operational synergies in the Gulf market.
