They are selling pieces of a subsidiary, subsidiaries taxed at the entity level (instead of pass through) always block regulatory restrictions of the shareholde

They are selling pieces of a subsidiary, subsidiaries taxed at the entity level (instead of pass through) always block regulatory restrictions of the shareholder. see “blocker corporation” when formed for this specific purpose It is interesting to think of this under US law since non profits are regulated heavily, but its not really that absurd The US version would require reducing shareholdings to below 35% or 20% - depending on what kind of foundation/nonprofit it actually was registered as, and what kind of decision making is being done. It wouldn't be unrelated business income tax it would be excess business holdings tax which I think can be way worse of an excise tax, up to 200%