Deutsche Bank welcomes the largest shareholder, Chinese HNA firm
Chinese conglomerate HNA Group has become Deutsche Bank AG’s largest shareholder after increasing its stake in the German lender to almost 10%, according to a filing made by asset manager C-Quadrat and other entities. It took HNA’s stake to 9.92%, following an initial stake of 4.76%, which it had earlier secured through C-Quadrat.
The acquisition of a significant stake in a pillar of European finance is another example of China’s growing global influence. Last year, Chinese firms announced around $220 billion worth of deals for foreign companies, far more than any previous year. HNA’s increased stake in Deutsche Bank makes it the lender’s largest shareholder, ahead of members of Qatar’s royal family and U.S. money manager BlackRock, according to public filings.