EFG Hermes advises Jahez on $245M stake acquisition in Snoonu
Updated 10/30/2025 3:55:00 PM
Arab Finance: EFG Hermes, a unit of EFG Holding, advised Jahez International Company for Information Systems Technology (Jahez) on its majority stake acquisition in Qatar’s Snoonu Holding Company (Snoonu), according to an emailed press release.
EFG Hermes acted as the buy-side advisor to Jahez, in line with the latter's objectives to become a GCC technology powerhouse.
Under the transaction, which marks Jahez's entry into the Qatari market, Jahez will acquire 76.56% for $245 million.
Meanwhile, Hamad Mubarak Al Hajri, the founder and CEO of Snoonu, will own the remaining 23.44% equity.
Saud Altassan, CEO of EFG Hermes KSA, commented: “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, said: “Jahez’s robust scale will undoubtedly propel Snoonu’s growth, while Snoonu will enrich Jahez with its innovative product development and talent.”
“This collaboration fosters innovation, enhances service offerings, and boosts profitability. It highlights EFG Hermes’ unparalleled ability to support Saudi corporates navigating complex cross-border transactions,” Meleka added.
He indicated: “This is the second outbound investment from Saudi Arabia this year, following Vision Invest’s landmark investment in Arise Integrated Industrial Platforms, reinforcing the Kingdom's presence in the global investment landscape”.
Since the beginning of 2025, EFG Hermes has advised on seven mergers and acquisitions (M&A) transactions, 11 debt capital market (DCM) transactions, and 10 equity capital market (ECM) transactions across the region.
The deals span Saudi Arabia, the UAE, Oman, and Egypt, underscoring the group’s leadership in regional markets.
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