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http://www.investorwords.com/3587/parent_company.html
Parent company
Definition
A company that owns enough voting stock in another firm to control management and operations by influencing or electing its board of directors. also called holding company.

e.g. A company holds 100% shares of B company.
      B holds 75% shares of C company and 50% shares of D co. (which also holds 75% of E co.).
     
      In this case, A is a parent company, B is a subsidiary co. of A.
      In C & D level, B is their parent co. (direct holding company), A is their ultimate holding company (coz A indirectly holds
      their shares).
      In E level, D is its holding company, but B is not (which holds 37.5% shares of E. E is an associate company of B)
     
50% >associate co. >20%
                                                                            
                                                                          

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