Beiersdorf

Achtung: On the Austrian NIVEA website, it says NIVEA is part of Beiersdorf Ges mbH, which is 100% daughter of Beiersdorf CEE Holding GmbH (both in Austria). Furthermore, Beiersdorf Ges mbH is named 100% daughter of Beiersdorf AG (in Germany). How can one company be 100% daughter of two other companies?

• NIVEA: Imprint
• Beiersdorf: Imprint