An unknown investor consortium agreed to acquire 60% stake in Imbalie Beauty Limited (JSE:ILE) on February 26, 2021. On June 24, 2021, Baxfex (Pty) Ltd. and Shenver Investments (Pty) Ltd entered into an agreement to acquire 61.3% stake in Imbalie Beauty Limited from Unihold Group (Pty) Limited, Holistic Remedies (Pty) Ltd, SA Madiba Investment (Pty) Ltd, Asset Management Arm and Esna Colyn for approximately ZAR 760 million. Under the agreement, Baxfex (Pty) Ltd. and Shenver Investments (Pty) Ltd will acquire 847.81 million shares at ZAR 0.90 per share.