HNA cuts Deutsche Bank stake, pledges to remain big investor

HNA cuts Deutsche Bank stake, pledges to remain big investor:

"Deutsche Bank’s largest investor, China’s cash-strapped conglomerate HNA Group Co, reduced its stake in the German lender slightly while pledging to remain a “significant” holder as it reorganises the financing of the stake. HNA held 9.2% of voting rights in Deutsche Bank, according to a regulatory filing on Friday, down from 9.9% previously. HNA holds about 4.3% of shares, with the remainder tied to a right to recall shares that have been loaned, the filing showed. “HNA will continue to be a significant investor in Deutsche Bank,” a spokesman for C-Quadrat Asset Management, which oversees the investment for HNA, said in a statement. “It is possible that voting right thresholds will be temporarily crossed” as HNA works on a “long-term-oriented financing structure” for the stake."



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