The Law Firm of Salman M. Al-Sudairi and Latham Advise Jahez on Acquisition of The Chefz
The Law Firm of Salman M. Al-Sudairi and Latham & Watkins have advised Jahez International Company for Information System Technology (Jahez), an information systems company that develops and operates a group of leading applications to connect users with restaurants and merchants, facilitates logistics, and cloud kitchens, on its SAR 650 million acquisition of The Chefz, a food delivery application that provides niche users with a curated selection of fine dining, baked goods, confectionary, and occasional gifts from specialized merchants.
Under the terms of the transaction, Jahez will acquire 100% of The Chefz through a combination of cash and shares issued in Jahez. The proposed transaction is likely to be closed in Q1- 2023 and remains subject to customary condition precedents and approvals.
The team was led by Principal and Latham partner Salman Al-Sudairi, Riyadh associate Noor M. Al-Fawzan, with associates Mira Fayad, Hatem Abdulghaffar, and Sumaya Bamakhrama.