Level of control (See Chapter 6 of the Vernimmen) The level of control measures the strength of direct or indirect dependence that exists between the parent company and its subsidiaries, joint venture or associates. This level reflects the percentage of voting rights held by the parent company in these companies. To calculate the level of control, the percentage of voting rights held by all group companies in the subsidiary, the joint venture or the associates are added together, provided that the group companies are controlled directly or indirectly by the parent company. Control is assumed when the percentage of voting rights held is 50% or higher or when a situation of de facto control exists at each link in the chain. It is important not to confuse the level of control with the level of ownership. Level of control is also called percentage control. Level of control (See Chapter 6 of the Vernimmen) The level of control measures the strength of direct or indirect dependence that exists between the parent company and its subsidiaries, joint venture or associates. This level reflects the percentage of voting rights held by the parent company in these companies. To calculate the level of control, the percentage of voting rights held by all group companies in the subsidiary, the joint venture or the associates are added together, provided that the group companies are controlled directly or indirectly by the parent company. Control is assumed when the percentage of voting rights held is 50% or higher or when a situation of de facto control exists at each link in the chain. It is important not to confuse the level of control with the level of ownership. Level of control is also called percentage control. See all terms in the dictionary of finance To know more about it, look at what we have already written on this subject :

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Definitions of terms begining with the same letter as "Level of control" :

L/C LBO LBU LIBOR, London Interbank Offered Rate LIFFE, Liffe LIFO, Last in, first out LMBO LOI LSP LYON, Liquid Yield Option Notes Large cap Last in, first out Lead Lead arranger Lead bank Lead manager Lease Leasing Legal merger Lending facility Lessee Lessor Letter of comfort

Letter of credit, L/C Letter of intent, LOI Level of control Level of ownership Leverage Leverage effect Leveraged build-up, LBU Leveraged buy-out, LBO Leveraged lease Leveraged management buy-out Leveraged recapitalisation Leveraged share buyback Levered beta Levered cost of equity Liabilities Life of the bond Life of the loan Lifecycle of financing sources Limited share partnerships, LSP Liquid Yield Option Notes Liquidity Liquidity - assets Liquidity - investments

Liquidity - liabilities Liquidity discount Liquidity preference theory Liquidity premium Liquidity ratios Liquidity risk - market Liquidity risk – company Liquidity – balance sheet Liquidity – security Listed security Listing Lock up period Lockbox system Locking in future prices or rates London Interbank Offered Rate Long (position) Lookback option Loss Ratio Loss rate Ltv, see Loan to value Ltv, see loan to value