Logo of Jahez International Company for Information System Technology
Jahez International Company for Information System Technology signed on May 19 a non-binding memorandum of understanding (MoU) with Chefz SPV Ltd. to acquire 100% of the latter company’s share capital, according to a bourse filing.
Chefz SPV Ltd. fully owns the Best Chefs Catering Co., which operates the Chefz gourmet food and sweets delivery platform in Saudi Arabia.
The 90-day MoU is effective from the signing date.
Chefz SPV’s shareholders shall not, during the term of this MoU, discuss any other offer, similar or competitor to the proposed offer.
The deal value will be determined upon completion of the due diligence review and will include cash and in-kind contributions.
Abdulaziz Al-Omran and Abdulwahab Al-Butairi are related parties.
The capital increase, which is related to the acquisition, will be subject to approval of competent authorities and extraordinary general meeting (EGM).
Related updates will be duly revealed, the statement added.
Comments
{{DisplayName}}
{{ElapsedTime}}