Saudi food delivery platform Jahez's shares drop after announcing acquisition agreement

The proposed acquisition will be priced based on the findings of due diligence, the company said in a bourse filing. (Shutterstock)
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Updated 20 April 2022
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Saudi food delivery platform Jahez's shares drop after announcing acquisition agreement

RIYADH: The shares of Jahez, the Saudi food delivery startup, edged lower in afternoon trading after the signing of an initial agreement to acquire Marn, a point of sales systems provider.

As of 01:18 p.,m. Saudi time, Jahez's shares were 1.03 percent lower at SR1,152 ($300) as compared to SR1,164.00 the previous day.

Jahez signed an initial agreement with shareholders of Marn Business Information Technology Co., a PoS systems provider for the food and beverage and retail sectors, to fully acquire the latter.

The proposed acquisition will be priced based on the findings of due diligence, the company said in a bourse filing.

Jahez was listed on Saudi Exchange's parallel market earlier this year as its first-ever listing of a local startup and was recently valued at $3.25 billion.


QatarEnergy announces force majeure following Iran attacks: statement

Updated 04 March 2026
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QatarEnergy announces force majeure following Iran attacks: statement

DOHA: Qatar’s state-run energy firm on Wednesday declared force majeure following attacks on two of its main facilities that halted liquefied natural gas production and as Iran pressed missile and drone attacks across the Gulf.

“Further to the announcement by QatarEnergy to stop production of liquefied natural gas and associated products, QatarEnergy has declared Force Majeure to its affected buyers,” the company said in a statement.

QatarEnergy invoked the clause, which shields it from penalties and potential breach of contract claims from clients, after stopping LNG production on Monday.

Iranian drones attacked two of the company’s main production hubs in Ras Laffan Industrial City, 80 km north of Doha and in Mesaieed 40 km south of the Qatari capital, Doha’s ministry of defense said at the time.

The Gulf state is one of the world’s top liquefied natural gas producers, alongside the US, Australia and Russia.

On Tuesday, QatarEnergy said it would halt some downstream production of some products including urea, polymers, methanol, aluminum and others.

Qatar shares the world’s largest natural gas reservoir with Iran.

QatarEnergy estimates the Gulf state’s portion of the reservoir, the North Field, holds about 10 percent of the world’s known natural gas reserves.

In recent years, Qatar has inked a series of long-term LNG deals with France’s Total, Britain’s Shell, India’s Petronet, China’s Sinopec and Italy’s Eni, among others.