WILMAR Africa’s intended takeover of the cooking oil business of consumer goods giant, Unilever is yet to materialize. This is because the two parties are still working on the necessary regulatory approvals. The Asian agribusiness giant wants to acquire a 60 percent stake in the Benso Oil Palm Plantation and all its oil processing activities which includes Unilever’s Frytol cooking oil brand. The Securities and Exchange Commission however needs to give its blessing because BENSO is a listed company. Charles Cofie Chief Executive of Unilever Ghana tells Joy Business the process is munderway. “There is a mandatory takeover process because BOPP is listed on the Ghana Stock Exchange and so the process is underway,” he said. According to him, Unilever wants to focus better on its core consumer business but has made adequate arrangements for workers who may be affected by the possible takeover. Wilmar International operates in 20 countries around the world and has expertise in lauric oils and palm oil production and marketing. It is making the acquisition through its Africa subsidiary.