A process of enzymatic degumming edible oils, comprising treating edible oil with a lipid acyltransferase so as to transfer an acyl group from a major part of the phospholipid to one or more acyl acceptors, wherein the acyl acceptor may be any compound comprising a hydroxyl group. In one embodiment preferably the acyl acceptor is water and in another embodiment preferably the acyl acceptor is one or more sterols and/or stanols. When the acyl acceptor is a stanol and/or sterol, one or more sterol esters and/or stanol esters are produced. The lipid acyltransferase for use in the process of the present invention may comprise one or more of the following amino acid sequences: SEQ ID NO: 1, SEQ ID NO: 3, SEQ ID NO: 4, SEQ ID NO: 5, SEQ ID NO: 6, SEQ ID NO: 7, SEQ ID NO: 8, SEQ ID NO: 9, SEQ ID NO: 10, SEQ ID NO: 11, SEQ ID NO: 12, SEQ ID NO: 13, SEQ ID NO: 14, or SEQ ID NO: 15, SEQ ID NO: 16, SEQ ID NO: 17, SEQ ID NO: 18, SEQ ID NO: 36, SEQ ID NO: 38, SEQ ID NO: 40, SEQ ID NO: 41, SEQ ID NO: 45, SEQ ID NO: 47, SEQ ID NO: 50 or an amino acid sequence which has 75% or more identity thereto. A novel lipid acyltransferase comprising the amino acid sequence shown as SEQ ID NO: 16 is also taught.