The Securities and Exchange Commission has granted Abraaj groups' request not to take over fan milk, despite moves to acquire majority stake in the beverage firm. Joy Business gathered the approval was secured last week. Sources say the regulator granted their appeal because they thought the transaction would not affect shareholders in Ghana. The Private equity firm last month announced that it is in discussion to take over Fan milk international. This should mean that Abraaj would have effectively acquired the Ghana unit of the beverage firm. But in a request to SEC, Abraaj asked be exempted from making a mandatory request to rest off the shareholders to acquire Fan Milk Ghana. The Private Equity firm can now go ahead the conclude the deal because it was the main condition for getting the blessing of the regulator. Under the code on Takeovers and Mergers, a firm is required to make a mandatory offer to other shareholders when its interest reaches 30 percent.