马丁·布伊格被任命为银行董事会成员。
布伊格先生在该上市公司的职位是很稳固的。
Mr Bouygues's position at the head of the listed company is secure.
布伊格兄弟的律师们只是说每件事都是按照法规进行的。
Lawyers for the Bouygues say everything was done in accordance with the rules.
这意味着他们是受布伊格股份有限公司股东控制的财产。
This implied that they were the property-and under the control-of Bouygues SA's shareholders.
很难讲，这些是出于布伊格股份有限公司投资者的利益考虑。
It is hard to see how this was in the interests of Bouygues SA's investors.
他们补充说布伊格股份有限公司盈利了并且仍受益于这种联合。
They add that Bouygues SA profited and still profits from the association.
或者为什么SAUR实际上不是布伊格股份有限公司的全资子公司呢？
Or, indeed, why was SAUR not a wholly owned subsidiary of Bouygues SA?
布伊格股份有限公司管理层报告中称取得了SAUR的绝大多数股份。
Bouygues SA's management reported that the company had acquired a majority stake in SAUR.
可是为什么布伊格股份有限公司不直接拥有SAUR的69.5％的股份呢？
So why did Bouygues SA not have a direct stake of 69.5% in SAUR?
表面上看，布伊格股份有限公司决定和布伊格兄弟们共同承担风险好像有些奇怪。
On the face of it, Bouygues SA's decision to share the risk with the brothers was an odd one.
布伊格兄弟的律师们称布伊格股份有限公司的董事会按照企业的资金多少来决策。
Lawyers for the brothers say that the board of Bouygues sa decided on the size of the firm's stake.
最可能的关于布伊格兄弟取得有控制权的股份，其最好的解释是他们的父亲希望他们当家。
The most likely explanation for the brothers' controlling stake is that their father wanted them to be in charge.
然而布伊格兄弟控制股份，他们而不是布伊格股份有限公司的其余股东控制Cofipex。
Yet the brothers controlled the shares; they, rather than the rest of Bouygues SA's shareholders, controlled Cofipex.
1988年它作中间人借款给子公司Cofipex，然后它再买入布伊格股份有限公司的股份。
In 1988 it channelled borrowed money into Cofipex, a subsidiary, which then bought shares in Bouygues SA.
本质上布伊格家族的通过金融手段获取的那些公司股份都应该完全是布伊格股份有限公司所有的。
In essence, the Bouygues' financial cunning enabled the family to acquire stakes in companies that arguably should have been entirely in the hands of Bouygues SA.
但对于做预制板房屋的这家企业，这个不完全真实：布伊格股份有限公司仅仅购入了45%的股份。
But, as with the prefab - housing business, this was not strictly true: Bouygues SA bought only 45 %.
早在1982年他就让马丁进入布伊格股份有限公司董事会，接着1984也让奥利维尔进驻董事会。
He appointed Martin to the board of Bouygues SA as early as 1982, followed by Olivier in 1984.
但是分开计算布伊格股份有限公司的直接股份和间接股份的剥夺了它的投资者对于SAUR的控制权。
But the splitting of Bouygues SA's interest into a direct stake and an indirect stake deprived its investors of control of SAUR.
布伊格股份有限公司1988年的账面一点没有提到SCDM或者布伊格兄弟在这次“买卖”中插手。
Bouygues sa's accounts for 1988 make no mention of the involvement of SCDM or the brothers in this "transaction".
此外，阿尔斯通公司同意和法国布伊格电信集团（Bouygues）成立合资企业，共同研发和提供能源管理服务。
Separately, Alstom agreed to create a joint venture with Bouygues SA to develop and provide energy-management services.
他们断言，布伊格股份有限公司的出色表现是公司在以该家族为代表治下管理顺畅，股东也因此获益的最好证明。
Bouygues SA's excellent performance, they assert, is the best proof that the company has been properly managed and that shareholders have prospered under the stewardship of the family.
因此1988年的合并财务报表所显示的Cofipex的股份归于布伊格股份有限公司名下，就像是该集团所拥有。
Hence the consolidated balance sheet for 1988 shows Cofipex's stake in Bouygues SA as shares that the group held in itself.
布伊格股份有限公司由于是Maison Bouygues ' s公司最大的股东，所以也就主张是公司的控股股东。
On the ground that it was Maison Bouygues's largest shareholder, Bouygues SA claimed to be the firm's controlling shareholder.
因为SCDM当时是拥有Maison Bouygues的股票52%的大股东，布伊格股份有限公司对其就不再拥有事实的控制权。
As SCDM was then Maison Bouygues's majority shareholder with 52%, Bouygues SA could no longer claim DE facto control.
布伊格兄弟的律师们称这是因为布伊格股份有限公司董事会包括最大的法人股东法国里昂信贷银行的派出代表，他们只批准了这么多的股份。
Lawyers for the brothers say only that Bouygues sa's board, which included representatives from credit Lyonnais, the largest institutional shareholder, approved the size of the firm's stake.
所以Maison Bouygues对销售收入就可以是布伊格集团的全部营业额达一部分，以此类推，它的利润也就其总利润的一部分。
So all of Maison Bouygues's sales counted as part of the Bouygues group's overall turnover, all of its profits as part of the overall profits and so on.
股东只零星地得到了一些信息，他们被告知摩根大通判定此次交易是公平的，但是观点却没有公开发表，布伊格家族律师们也没有提供拷贝。
Shareholders got sparse information; they were told JPMorgan had judged that the deal was fair, but this opinion was not published and lawyers for the Bouygues would not supply a copy.
实际上，SAUR的大部分借款利息由布伊格股份有限公司的股东支付，因为他们在MaisonBouygues和SAUR有更多的经济利益。
Bouygues SA's shareholders were, in effect, footing most of the interest bill on SAUR's borrowings, because they had the greater economic interest in Maison Bouygues and SAUR.
实际上，SAUR的大部分借款利息由布伊格股份有限公司的股东支付，因为他们在MaisonBouygues和SAUR有更多的经济利益。
Bouygues SA's shareholders were, in effect, footing most of the interest bill on SAUR's borrowings, because they had the greater economic interest in Maison Bouygues and SAUR.
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