controllata

Controllata (plural controllate) is a term used in Italian corporate law to designate a company that is controlled by another company, known as the controllante or capogruppo. The controlling entity has the power to govern the financial and operating policies of the controllata in order to obtain benefits from its activities.

Control is usually achieved by owning a majority of voting rights, but it can also arise through other arrangements such as board control, voting agreements, or indirect control via subsidiaries. Control can be direct, where the parent holds the necessary rights in the controllata itself, or indirect, through one or more intermediate entities within a corporate group.

In financial reporting, a controllata is typically included in the consolidated financial statements of the controlling group. The parent aggregates the controllata’s assets, liabilities, income, and cash flows, presenting any non-controlling or minority interests separately. The existence of a controllata affects governance, disclosure obligations, and the assessment of the group’s overall performance.

Controllate are distinguished from partecipate (associated or jointly influenced companies) where the parent has significant influence but not control, usually characterized by holdings around 20–50% or by other arrangements that stop short of controlling policy. The term is common in Italy for describing corporate groups and is used in both civil-law corporate practice and accounting standards, including IFRS-consolidated reporting.

In summary, a controllata is a subsidiary over which a parent company exercises control, with implications for governance, reporting, and the consolidation of group financial statements.