Competition Commission approves Ellies acquisition of Bundu Power

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Ellies’ proposed acquisition of Bundu Power has got the nod from the Competition Commission.

This is a major milestone for Ellies, which had a lot riding on the deal.It had reported an R85-million loss — a decline of 95% from R43.7 million the year before.

“The board and management believe that with the acquisition of Bundu Power, the expected increase in working capital facilities and benefits from the restructuring, the group will be well positioned for the next year.” “Ellies is an investment holding company involved in businesses that operate in the packaging, trading, and distribution of a diverse range of products and services, including satellite television products and related accessories, electrical, signal distribution, residential and commercial light emitting diode lighting solutions, solar power equipment, generators, uninterrupted power supply, water solutions, fibre connectivity, sound, and audio-visual equipment distribution and installation,”...

 

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