Jawad Mahmoud Jawad: Ready to grow with confidence towards new markets and Snownu’s acquisition is a strategic step

Review International announced the signing of a final agreement to acquire a 76.56 % stake in the Qatari “Snono” company, in a deal worth 245 million US dollars, as part of its expansion plan in the delivery and electronic trade sector in the Gulf.

Commenting on the deal, Jawad Mahmoud Jawad, CEO of ready Bahrain, said:

“Today is ready for a successful regional platform in the Kingdom of Saudi Arabia, Bahrain and Kuwait and grows confidently towards new markets, our acquisition of Snono reflects our commitment to building a unified technical system, benefiting from local experiences, and provides a high -performance operational experience that keeps pace with the aspirations of the Gulf and global user.”

The deal is divided into a acquisition of 75 % of current shareholders shares for $ 225 million, in addition to a capital pump of $ 20 million compared to 1.56 % of new shares.

This acquisition represents the first direct entry of a ready company to the Qatari market after its success in the Kingdom of Bahrain and Kuwait, while maintaining the “Snono” brand and its independence, and it is expected that cooperation will contribute to creating technical and operating synergy that enhances the performance of the two companies in the region.