# Ellies Holdings receives approval to acquire Bundu Power

Ellies Holdings received unconditional approval from the Competition Commission to acquire 100% of Bundu Power for a maximum of R202.6 million. The deal includes an initial payment of R72.6 million and R130 million in earn-outs.

- Type: Acquisition
- Announced: 2023-08-29
- Where: South Africa
- Value: $10.8M (202.6M ZAR)
- 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-gets-go-ahead-for-bundu-power-deal/230671/), 2023-08-29: "The acquisition of Bundu Power is the first building block of the new strategy and will expand the Ellies portfolio of alternative energy solutions."

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