Jahez says Chefz SPV buyout deal ‘not closed’

Logo of Jahez International Co. for Information System Technology 


Jahez International Co. for Information System Technology (Jahez) announced that the period to fulfil the conditions related to the acquisition of 100% of Chefz SPV LTD expired without an agreement, according to a statement to Tadawul.

 

Jahez added that there was no deal to extend the term, accordingly, the share-purchase agreement (SPA) and the related addendums are terminated.

 

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.

 

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

 

In May 2023, the SPA was extended until July 31, and then to Oct. 31, 2023.

 

For More Mergers and Acquisitions

Comments

loader Train
loader Train
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.
ajax loading

Market Indices

Created with Highstock 6.0.710:0011:0012:0013:0030,250.0030,300.0030,350.0030,400.0030,450.0030,500.00
Close : 30422.26 | Dec 4, 13:11

Quotes

Created with Highstock 6.0.710:0011:0012:0013:0036.2536.5036.7537.0037.2537.50
Close : 36.85 | Dec 4, 13:11


Call Request

Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.

Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website