Team A
Holding Company A owns 60% of company B, which owns 60% of C
Pyramid ownership
A family holds 52% of the shares and directs profits into benefiting private businesses
Controlling shareholders
What are cash flow rights?
It is the proportion of the cash flows generated by the firm that the family has a right to
The shareholder approves an exclusive contract with a related firm at a price that reduces listed company´s profits
Tunneling
A founder only owns 15% of the company but can appoint most board members
Control rights
A founder owns 12% of his company but holds special shares that give him 10 votes per share
Dual class share structure