Regional Integration: Saudi Jahez $234 Million Acquisition of Qatari Snoonu

Jahez-Snoonu and the GCC railway signal a strategic GCC pivot towards more integration and self-reliance.

Image: Wamda

On 9 July, Saudi Arabia’s Jahez International acquired a 76.56% stake in Qatar’s Snoonu Holding for $234 million, marking a pivotal cross-border transaction in the Gulf Cooperation Council’s (GCC) consumer technology sector. This deal, encompassing $214 million for 8.14 million existing shares (75% of Snoonu’s capital) and a $20 million equity injection for 723,960 new shares, positions Jahez as a regional powerhouse, integrating its Saudi operations with Snoonu’s dominant Qatari platform in logistics, e-commerce, food delivery, and postal services. This acquisition not only consolidates market share but also signals deeper GCC economic integration, aligning with broader geopolitical and economic objectives in a volatile region.

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