Jahez says The Chefz deal subject to conditions

Jahez International Company for Information System Technology said that the completion of the acquisition of The Chefz under the share and purchase agreement (SPA) remains subject to a number of other conditions.

In a statement on Tadawul, Jahez said the conditions include approvals from regulatory authorities and company shareholders, as well as others as outlined in the SPA.

On Sept. 14, the General Authority for Competition (GAC) granted a conditional approval for Jahez to fully acquire The Chefz SPV Ltd., Argaam reported.

On Nov. 29, 2022, Jahez signed the SPA to acquire 134,620 shares in The Chefz, representing a 100% stake. The SPA was signed with Abdulrahman Abdullah Alshabanat, Abdulrahman Ahmed Almarshed, Abdullah Mohammed Aldosari, Saqr Fund L.P, Impact46 Seed Fund/Impact Seed Fund Co., and Muthmir for Investment Co.

Source : Argaam