HNA Group, a diversified Chinese conglomerate, has become the largest shareholder of Deutsche Bank, increasing its stake to almost 10%б that's more than the Royal family of Qatar and American management company BlackRock have, Handelsblatt reports.
In February, HNA has for the first time acquired 3.04% of ordinary shares of Deutsche Bank via the European management company C-Quadrat Asset Management LLP based in the United Kingdom, and in April the company has increased its share from 4.76% to 9.92%.
Deutsche Bank and HNA declined to comment on this information.
As a reference, C-Quadrat Asset Management (UK) LLP is a subsidiary of C-Quadrat Investment AG established by the Austrian investor Alexander Schultz.