RIYADH: Saudi food delivery platform Jahez said it has signed an initial deal to acquire The Chefz — one of its rivals in the Kingdom.
The firm, formally known as Jahez International Co. for Information Systems Technology, seeks a full acquisition of The Chefz, it said in a bourse filing.
Riyadh-based The Chefz is an app specialized in food delivery and caters to several citites across the Kingdom.
Valued at $2.94 billion as of May 19, Jahez joined Saudi exchange’s parallel market earlier this year as its first-ever listing of a local startup.