wholly owned subsidiary

(redirected from Wholly-Owned)

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 ?
Evans National Bank, a nationally chartered bank and wholly-owned subsidiary of Evans Bancorp, Inc.
today announced that its newly created wholly-owned subsidiary, NorTex Gas Storage Company, LLC, has closed on a secured $335 million bank loan package for the expansion of its Hill-Lake and Worsham-Steed gas storage facilities in North Texas.
NASDAQ: EVBN) Board of Directors announced today that it has identified the successor for James Tilley, President and Chief Executive Officer of Evans Bancorp and Evans National Bank, a nationally chartered bank and wholly-owned subsidiary of Evans Bancorp.
SAN DIEGO -- Tasco Holdings International's (OTCBB:THII) wholly-owned subsidiary Bio-Matrix Scientific Group, Inc.
The Company's wholly-owned subsidiary, Terra Resources, Inc.
NYSE:OLP) previously announced on June 16, 2006 that, among other things, a contract had been executed by entities wholly-owned by two joint ventures of OLP (in which OLP holds a 50% equity interest) to sell to a single buyer eight properties and by a wholly-owned subsidiary of OLP to sell to the same buyer one property.
NYSE:OLP) today announced that a contract has been executed by entities wholly-owned by two joint ventures of OLP (in which OLP holds a 50% equity interest) to sell to a single buyer eight properties and by a wholly-owned subsidiary of OLP to sell to the same buyer one property for an aggregate consideration of $161,885,050.
TORONTO -- Diamant Art Corporation (OTCBB:DIAAF), and its wholly-owned subsidiary, Diamant Films Inc.
The company reported that four wholly-owned multifamily properties, five wholly-owned retail properties and one wholly-owned office property sustained damage from the hurricane.
Strategy Insurance Limited ("Strategy"), a Barbados-formed and licensed provider of specialty lines of insurance, reinsurance and structured risk underwriting, focusing on credit risk and credit enhancement, is a wholly-owned subsidiary of Strategy Holding Company Limited, a Barbados company which is itself a wholly-owned subsidiary of Strategy International Insurance Group, Inc.