Jahez says Chefz SPV due diligence ongoing

17/08/2022 Argaam

Logo of Jahez International Company for Information System Technology

Jahez International Company for Information System Technology (Jahez) announced that the due diligence review related to the non-binding memorandum of understanding (MoU) with Chefz SPV Ltd. is in progress, according to a bourse filing today, Aug. 17.

 

The relevant updates will be duly revealed, the statement added.

 

Neither the deal completion date nor the relevant costs can be determined at present as they are subject to discussions between Jahez and the Chefz’s shareholders, and the ongoing due diligence.

 

Jahez signed on May 19 a non-binding MoU with Chefz SPV Ltd. to acquire 100% of the latter company’s share capital. Chefz SPV Ltd. fully owns the Best Chefs Catering Co., which operates the Chefz gourmet food and sweets delivery platform in Saudi Arabia, Argaam reported.

 

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