Business Relationship

subsidiary   parent company     holding company hold(v) stake

дочірня компанія, підконтрольна компанія, філія компанія-засновник; компанія, що володіє контрольним пакетом акцій іншої компанії холдингова компанія володіти частка (капіталу), акція

sister company conglomerate joint venture separate legal entity consortium undertake (a project)   carry out

сестринська компанія конгломерат спільне підприємство окрема юридична особа консорціум розпочинати, здійснювати (проект) виконувати, здійснювати

As businesses expand they may buy shares in other companies, or join with other companies for a particular purpose. There are different relationships these companies can have with one another.

A groupis a number of subsidiary companies operating under one leading company – the parent company. A subsidiary is a company half or wholly owned by another company (the parent company).

A holding company is one that holds all, or more than half of, the stakes in one or more subsidiaries. It is the leading company in a group.A holding company's relationship to its subsidiaries is that of parent company, and the subsidiaries' relationship to each other is that of sister companies.

A conglomerate is a group consisting of a lot of different companies in different businesses run as one large company.

When two or more companies decide to work together, they form a joint venture. In such cases, the two companies involved remain separate legal entities.

A consortium is a group of companies which come together to undertake a project which any one of the members cannot carry out alone.

1 Describe the types of relationships that companies can have with one another. 2 What is a group? 3 Is a subsidiary owned by another company? 4 What is a holding company? 5 What is a conglomerate? 6 Under what circumstances is a joint venture formed? 7 Why do companies unite into a consortium?

1 Match words that have a similar meaning:

consist stock separate carry out operate holding company hold decide remain

stay parent company different from make up one's mind share fulfil function be composed of own

2 The words in the box frequently occur after "company". Find combinations that mean:

1) the leading company of a group that holds all or more than half of the shares of the other companies and usually controls other companies; 2) one of two or more organizations that are part of the same group; 3) a business formed by a group of people using money provided by them all; 4) a company of which at least half the share capital is owned by another company, called a parent or holding company; 5) a company whose shares are recorded on the

main market of a stock exchange;

6) a company whose members are only responsible for its debts up to a limited amount; 7) a company that offers the same or better goods and services as another and therefore competes for the same customers.

3 Match the words and phrases in the box with the correct definition:

1) a connection between ideas, people or things; 2) the leading company in a group; 3) a holding company together with any subsidiary companies in which it owns more than half of the share capital; 4) a business activity in which two or more people or organizations work together; 5) a sum of money invested in a

business; 6) a number of companies, sometimes involved with different products, joined together and run as one large company; 7) a temporary association of two or more companies for a major project that is too complex for any of them to do alone; 8) allowed or required by law.

4 Choose the correct word from the box to complete the gaps. Translate the sentences into Ukrainian:

Undertake, remained, holds, relationship, joint venture, sister, stake, holding, subsidiary (2), conglomerate, separate

1 One of the oldest breweries has now joined an international... of drinks manufacturers. 2 There are now five... companies in the group. Each... company trades under its own name. 3 The businessman formed a... company to control all his assets. 4 They have a 25%... in the business. 5 Our... company may share some of the advertising costs with US. 6 An American and a German auto maker agreed to form a......to build trucks. 7 Those two companies have a close working.... 8 She... stocks of 12 companies. 9 This product has... popular for many years. 10 The company will... the building of a large warehouse. 11 The cost of making the product and the cost of selling it are two... issues.

5 Fill in the missing prepositions: (into, for (2), of (4), with, in (7), by (2), because of)

1 The group's shares fell...10 %...a fall in the home market. 2 Our parent company has its HQ... Finland. 3 Nestle Corporation,... its many branches and subsidiaries, is one... the world's largest food manufacturers. 4 Multinational corporations now operate... every sector... industry. 5 Philip Morris is a holding company which owns several major American companies... the tobacco and food industries. 6 Warner Bros is an entertainment conglomerate that produces television programmes... broadcasting all over the world. 7 Japanese and US firms... the textile industry continue to enter... joint ventures... India. 8 The hotel was finally rescued... a consortium... local business owners. 9 I work... a construction company which has a lot... contracts... other countries. 10 The partners... a joined venture agree to control and manage the business together.

GRAMMAR: Present Perfect Simple (2)

have / has + V3 (Ved)

We use the Present Perfect Simple:

*for the action or situation which is finished: We have painted the whole house.

*for recent actions or events in the past that have a result in the present: You have broken the window!

*for actions or situations that began in the past and continue in the present: Windsor Castle has been a royal residence since the 11th century.

Time expressions: for, since, just, already, yet, this morning (week), recently, lately, never, ever.

1 Choose the correct verb form:

1. Have you ever seen/did you ever see a rock concert? 2. I saw/have seen the Rolling Stones last year. 3. I love rock and roll I like/have liked it all my life. 4. The Stones' concert has been/was excellent. 5. І have bought/bought all their records after the concert. 6. How long have you known/do you know Peter? 7. I know him/have known him since we were at school together. 8. When did you get/have you got married to him? 9. We have been/are together for over ten years, and we have got/got married eight years ago.

2 Put for or since into each gap. a. ____ two weeks b. ____ half an hour c. ____ August d. ____ 9.15 e. ____ I was ten

f. ___ a long time g. ___ 3 March h. ___ ages i. ___ the beginning of term j. ___ a couple of days

3 Make sentences about the following people:

1) Alice is a journalist. (meet/a lot of famous people; not be/on television) 2) Robert Swan is an explorer. (be/North Pole; see/polar bears; never/get lost) 3) Bill and Sophie are unemployed. (not have/a job for six months; not have/a holiday since Christmas; not be/the cinema for a year) 4) Sue is a tennis player. (play/since she was six; not win/a senior competition; never play/at Wimbledon)

4 Answer the questions about you. Use short answers. Have you ever ...

...been to Mexico / tried Chinese food / forgotten to do the homework / made your teacher angry with you?

5 Put for or since into each gap. Translate the sentences into Ukrainian:

a) I haven't seen Keith_____a while. b) He's been in China_____January. c) Jack works for KMP. He has worked for them_____several years. d) He and his wife have lived next to me_____their son, Denny, was born. e) І have known them_____many years. f) We’ve been friends_____we were at university together. g) His wife, Carrie, is a designer. She has had her own studio_____six months. h) I’m looking after Tom today. He's been at my house _____8.00 this morning.

6 Ask these people questions about their experiences:

1 a racing driver - have an accident? 2 an explorer - get lost? 3 an actress - forget your words? 4 a mountaineer - climb Mount Everest? 5 a window cleaner - fall off your ladder? 6 a pop singer - have a number one song? 7 an electrician - have an electric shock?

7 Open the brackets. Translate the sentences into Ukrainian:

1 Sorry I’m late – I (miss) the bus. 2 We (live) here all our lives. 3 What they (tell) you? 4 She (have) a headache since morning. 5 You (ask) her yet? 6 I (not know) her very long. 7 He (be) a singer since childhood. 8 She (not do) her homework again! 9 Anybody (see) Jane this morning? 10 I (be) to France and Italy but I never (be) to Greece. 11 You (have) your breakfast yet?

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