Jahez completes prerequisites to fully acquire Marn

05/01/2023 Argaam

Jahez completes prerequisites to fully acquires Marn

Logo of Jahez International Company for Information Systems Technology

Jahez International Company for Information Systems Technology announced, on Jan. 4, the completion of all procedures related to the full acquisition of Marn Business Information Technology Co.

 

In a statement to Tadawul, the company stated that this step was followed by fulfillment of all relevant preconditions set forth in the share purchase agreement (SPA), including obtaining approvals from the competent authorities.

 

The financial impact of this deal will reflect as of H1 2023, the company forecast.

 

According to data compiled by Argaam, Jahez signed, in Oct. 2022, an SPA to fully acquire Marn for SAR 60 million. The deal will be funded from Jahez own resources.

 

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