Breaking News
0

HNA cuts stake in Deutsche Bank to 6.3 percent: SEC filing

Stock MarketsFeb 16, 2019 05:48AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. FILE PHOTO: The financial district with the headquarters of Germany's largest business bank, Deutsche Bank , is photographed on early evening in Frankfurt

FRANKFURT (Reuters) - Chinese conglomerate HNA has cut its stake in Deutsche Bank (DE:DBKGn) to 6.3 percent, according to a filing with the U.S. Securities and Exchange Commission.

That marks a reduction from 7.64 percent of voting rights reported in the most recent filing in Germany.

HNA, even with the reduced holding, would remain one of the largest shareholders in Germany's largest lender.

Spokesmen for HNA in Germany and Deutche Bank declined to comment.

The SEC filing was published on Feb. 15 but the date of the reduction was Feb. 12.

HNA initially bought into Deutsche Bank in early 2017, amassing a stake of close to 10 percent. But it has since trimmed its stake in installments.

High debts at the conglomerate have fueled speculation about the future of its Deutsche stake as it reduces or exits some of its other holdings.

The fund C-Quadrat manages the stake on behalf of HNA, which has voting rights in Deutsche through a mix of ordinary shares and financial instruments.

HNA's interests in the bank are represented through a member sitting on Deutsche Bank's supervisory board.

Other major shareholders include the royal family of Qatar, BlackRock (NYSE:BLK), and Cerberus.

HNA cuts stake in Deutsche Bank to 6.3 percent: SEC filing
 

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments
Dave Jones
Dave Jones Feb 16, 2019 3:40AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
bit scant on the deets there mate!
Reply
0 0
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email