African Phoenix Investments Limited made an offer to acquire a 51.197778% stake in enX Group Limited (JSE:ENX) for ZAR 6.41 per share on May 11, 2023. Java Capital (Proprietary) Limited acted as financial advisor to African Phoenix Investments Limited, White & Case acted as legal advisor to enX Group Limited (JSE:ENX) and Herbert Smith Freehills South Africa LLP acted as legal advisor to African Phoenix Investments Limited.