Ellies to buy Bundu Power for R203m
Electronics company’s first deal since 2008 will probably be funded by a combination of debt and a rights issue, CFO says
01 February 2023 - 18:40
Ellies has made its first acquisition in 15 years, a move that the financially burdened electronics company hopes will mark a new chapter as it seeks to capitalise on opportunities in renewable energy and backup power.
The company said on Wednesday it has agreed to take full control of Bundu Power in a R202.6m deal. CFO Guy Moretti said the funding is likely to be a combination of debt and a rights issue. ..
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