A group of interrelated companies (in fact one single business entity with many corporate parts). It usually consists of one holding company and a number of subsidiary companies, though there may be sub-subsidiary companies or associated companies (for example if A Company and B Company each own 50 per cent of C Company and A Company owns B Company, C Company is part of the group though not a subsidiary of either). Situations where A Company owns B Company owns C Company owns A Company are not permitted.
Reference: The Penguin Business Dictionary, 3rd edt.
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