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  • News Desk
  • May 4th, 2017
  • Comments Off on Chinese conglomerate HNA takes top stake in Deutsche Bank
Chinese conglomerate HNA Group has become Deutsche Bank's biggest direct shareholder, upping its stake in the flagship lender of Europe's top economy to just under 10 percent, according to a US regulatory filing. HNA's buy, which one trader said would lift confidence in the lender's stock, leaves roughly one fifth of the struggling bank in the hands of investors who may be pursuing strategic interests.

It comes at a time of heightened uncertainty at the bank, as it grapples with a strategic turnaround, an uncertain global economy and the impact of Britain's departure from the European Union. HNA's stake puts it slightly ahead of Qatari investors. Funds controlled by Qatar's former Prime Minister Sheikh Hamad bin Jassim al-Thani last year increased their stake, including options, to just under 10 percent. The Chinese group has been on an acquisition spree, expanding from its traditional business of aviation and logistics into financial services, betting on asset managers and consumer finance for growth at home and overseas.



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