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Explain in details whether bic ltd is a subsidiary of alice

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Reference no: EM133184591

Question - Alice Ltd owns 40% of the shares of Bic Ltd.  Another 25% of the shares of Bic is owned by Can Ltd.  The remaining shares of Bic Ltd are owned by thousands of small shareholders.  Each shareholder of Bic Ltd is entitled to one vote per share.

Alice Ltd owns 60% of the shares of Can Ltd.  Each shareholder of Can Ltd is entitled to one vote per share.

Required -

1. Explain in details whether Bic Ltd is a subsidiary of Alice Ltd.

2. Identify all the non-controlling interests in the Alice Ltd Group.

Reference no: EM133184591

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