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Hello
In this question, even though I read the answer, is a bit confusing why Coate should deconsolidate Patten. My reason is because Coate has appointed 3 out of the 4 directors at board level and it has the remaining 50%. Kindly explain.
Hi,
The key is the sentence that says “certain decisions required consensus by the two shareholders”. If both shareholders agree then things happen. If one shareholder disagrees nothing happens, so we therefore no longer have control but have joint control.
Thanks
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