WILMAR Africa’s intended takeover of the cooking oil business of consumer goods giant, Unilever is likely to finally materialize next year. The takeover bid was revived after a commercial court in Accra threw out an application by a Unilever shareholder to block it. Joy Business’ George Wiafe reports that the shareholder, Dan Ofori prayed the court to prevent Unilever from selling its interest in Benso Oil Plantation and its cooking oil Business to WILMAR Africa. Joy Business gathered the shareholder wasn’t satisfied with the offer from the new owners and also feared his interest might be diluted. According to the original takeover plan, WILMAR should have concluded the process by October this year. Their inability to secure the necessary regulatory approval from market regulator, the Securities and Exchange Commission and the legal challenge however slowed down the takeover. The Asian agribusiness giant wants to acquire a 60 percent stake in the BOPP and all its oil processing activities which includes Unilever’s Frytol cooking oil brand. According to Unilever, it wants to focus better on its core consumer business hence its decision to dispose those assets. A source close to the deal tells Joy Business the process could be sealed by next year as the impediments have been removed. 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. Source: Joy Business/Ghana