# Ellies Holdings to acquire Bundu Power for R203 million

Ellies Holdings has agreed to buy 100% of Bundu Power, a company specializing in alternative power solutions, for a maximum of R202.6 million. The deal includes companies Magetz Electrical and Power On Wheels.

- Type: Acquisition
- Announced: 2023-02-01
- Where: South Africa
- Status: announced
- Products: generators, solar products, alternative power solutions
- Sectors: [Power Generation Equipment](https://endata.com/sectors/power-generation-equipment.md)

## Companies

- [Ellies Holdings](https://endata.com/companies/68268.md) (acquirer)
- [Bundu Power](https://endata.com/companies/68269.md) (target)

## Sources

- [techcentral.co.za](https://techcentral.co.za/ellies-to-buy-bundu-power-in-r203-million-deal/221614/), 2023-02-01: "Ellies Holdings has agreed to buy 100% of Bundu Power, a company that specialises in alternative power solutions, for a maximum R202.6-million."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.