EFG Hermes completes Jahez s acquisition of a majority stake in Sununu Holding,the leading platform in Qatar
EFG Hermes, the investment bank of EFG Holding and a leading player in the MENA region, announced today that it acted as financial advisor to Jahez International Information Technology Systems (Jahez) in its acquisition of a majority stake in Sununu Holding (Sununu), Qatar’s leading technology and on-demand delivery platform.
This transaction represents a strategic milestone that strengthens Jahez’s journey towards becoming a leading technology company in the GCC and marks a significant step in its entry into the Qatari market.
Jahez acquired a 76.56% stake in Sununu for US$245 million, with Eng. Hamad Mubarak Al-Hajri, founder and CEO of Sununu, retaining the remaining 23.44% stake after the transaction is completed.
In this context, Saud Al-Tassan, CEO of EFG Hermes KSA, stated: “This transaction marks a significant milestone for the technology and e-commerce sectors in the region, bringing together two of the most prominent local innovators who share the same vision for growth and digital transformation. We are proud to have nurtured this investment opportunity from its inception and provided the necessary advisory support for its successful completion. This reflects EFG Hermes’ ability to identify early strategic opportunities, connect ambitious market leaders, and execute cross-border deals that deliver sustainable, long-term value.”
Karim Malika, Co-Head of Investment Banking at EFG Hermes, added: “This alliance marks a new chapter in the journey of Jahez and Sununu towards regional expansion. Jahez’s scale and operational expertise will contribute to Sununu’s growth, while Sununu will enrich Jahez with its product development capabilities and exceptional team. EFG Hermes has been a pivotal partner in supporting Jahez’s journey, thanks to our extensive experience in cross-border logistics, e-commerce, and on-demand delivery services. This collaboration reflects our unique ability to assist Saudi companies in executing complex international investment deals and represents the Kingdom’s second foreign investment this year, following Vision Invest’s strategic investment in Arise Integrated Industrial Platforms, further strengthening the Kingdom’s investment presence on the global stage.”
Since the beginning of the year, EFG Hermes has provided advisory services on 7 mergers and acquisitions deals, 11 debt markets deals, and 10 capital markets deals across the region, including notable deals in Saudi Arabia, the UAE, Oman, and Egypt, confirming the firm’s leadership in regional markets.
