HNA Group has raised its stake in Deutsche Bank to almost 10 per cent, making the Chinese conglomerate the top shareholder in Germany’s largest lender.
A filing made on Tuesday by entities including C-Quadrat — an asset manager through which HNA had already purchased a 4.76 per cent stake in Deutsche — showed the Chinese group had now acquired an aggregate 204.7m of 2.06bn shares outstanding in the German bank.
The purchase took HNA’s stake to 9.92 per cent, leapfrogging BlackRock’s 5.88 per cent holding to make it the top shareholder in the German bank.
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