Cairo - Mubasher: EFG Hermes, an EFG Holding company, acted as the buy-side advisor to Jahez International Company for Information Systems Technology (Jahez) on its $245 million acquisition of a 76.56% stake in Snoonu Holding Company (Snoonu).
The deal marks Jahez’s entry into the Qatari market and strengthens its position as a regional technology player, according to a press release.
Snoonu’s founder and CEO, Hamad Mubarak Al Hajri, will retain a 23.44% stake following the transaction.
Saud Altassan, CEO of EFG Hermes KSA, stated: “This transaction represents a pivotal milestone in the evolution of the region’s technology and e-commerce landscape, bringing together two leading homegrown innovators with a shared vision for growth and digital transformation.”
Karim Meleka, Co-Head of Investment Banking at EFG Hermes, added: “Jahez’s robust scale will undoubtedly propel Snoonu’s growth, while Snoonu will enrich Jahez with its innovative product development and talent. EFG Hermes has been an essential partner in driving Jahez's rapid progress through its impressive expertise in cross-border logistics, e-commerce, and on-demand delivery.”
So far in 2025, EFG Hermes has advised on seven M&A, 11 debt capital market, and 10 equity capital market transactions across Saudi Arabia, the UAE, Oman, and Egypt.
In October, Jahez completed the first phase of its acquisition of Snoonu, acquiring 75% of its share capital, equivalent to 7.90 million shares.
