wholly owned subsidiary

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Wholly owned subsidiary

A subsidiary whose parent company owns virtually 100% of its common stock.

Wholly Owned Subsidiary

A company that, while theoretically publicly-traded, has all of its common stock owned by a single company. Some wholly owned subsidiaries belong to the same industry as the parent company, while others do not, and are part of a diversification effort on the part of the parent company. A wholly owned subsidiary's board of directors is directly appointed by the parent company, and is ultimately responsible to the shareholders of the parent company. Some wholly owned subsidiaries were once part of the parent company but were spun off, while others were smaller companies bought outright by their parent companies. See also: Holding company.

wholly owned subsidiary

A company that is totally owned by another company. For example, American Airlines is a wholly owned subsidiary of AMR Corp. A wholly owned subsidiary may have publicly traded preferred stock and debt, but all of its common stock is owned by a parent company and is unavailable for purchase.
References in periodicals archive ?
offers Voice over the Internet Protocol service in the People's Republic of China through its wholly owned subsidiary Jinan Yinquan Technology Co.
Virginia Natural Gas, a wholly owned subsidiary of AGL Resources (NYSE: ATG), provides retail natural gas sales and distribution services to 261,000 customers in southeast Virginia.
Copperstone Mining Limited, formerly a wholly owned subsidiary of Great West Gold, Inc.
South Coast Commercial Bank, the former wholly owned subsidiary of FCB Bancorp, had total assets of $2.
Boonton Electronics, a wholly owned subsidiary, is a leader in the manufacturer of test equipment dedicated to measuring the power of RF and Microwave systems used in multiple telecommunications markets.
Guthrie said: "The wholly owned subsidiary will actively bid on contracts involving new house construction, refurbishment of existing residential and commercial real estate and provide construction management to these developments.
The company is a wholly owned subsidiary of Enhance Financial Services Group Inc.
OTCBB:SGYI), through its wholly owned subsidiary, Strategy Holding Company Limited, through its wholly owned subsidiary, Strategy Insurance Limited, a provider of specialty lines of insurance, reinsurance and structured risk underwriting focusing on credit risk and credit enhancement, announced today that it has been retained by Value Guaranteed Vacations Inc.
PK) today announced that it has signed a definitive purchase agreement to acquire, through a wholly owned subsidiary, substantially all of the assets of Color Edge, Inc.