So why did Bouygues SA not have a direct stake of 69.5% 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？
A third group of firms appears to be fully private, in that the government owns no direct stake in them.
第三类企业看起来像是完全私有化的，国家不直接参股。
But the splitting of Bouygues SA's interest into a direct stake and an indirect stake deprived its investors of control of SAUR.
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。
Through an analysis, this paper holds that the crux of recessive MBO lies in the direct stake driving brought about by the effect of large wealth transfer.
本文通过分析认为隐性M BO产生的实质在于巨大的财富转移效应引起的直接利益驱动。只有消除产生财富转移的股权基础，我国MBO才能够真正实现价值创造。
The civil procedure law says a plaintiff in legal proceedings ought to be to person having direct stake with law case, otherwise he does not have the qualification.
民事诉讼法规定提起诉讼的原告应当是和案件有直接利害关系的人，否则就不具备当事人的资格。
Note, too, that this transfer was possible only because Bouygues SA's stake in SAUR was divided between a direct 44.9% and an indirect 24.5%.
也请大家注意，此次股票转让之所以有可能实现，是因为布伊格股份有限公司所拥有的SAUR的股份分成44.9%的直接股份和24.5%间接股份。
If it had taken a single direct holding, it would have controlled SAUR and Cofipex, and thus never have lost control of the 10% stake.
假使只有单次直接持股，它就会控股SAUR和Cofipex，也就不会丧失对那10%的股份控制权。
If it had taken a single direct holding, it would have controlled SAUR and Cofipex, and thus never have lost control of the 10% stake.
假使只有单次直接持股，它就会控股SAUR和Cofipex，也就不会丧失对那10%的股份控制权。
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