Chinese industrial and financial conglomerate HNA became Deutsche Bank's first shareholder, bringing its stake in Germany's top private bank to 9,92% from 4,76% in March of this year. This is the result of a communication on voting rights sent to the German Stock Exchange last night.
HNA has therefore surpassed the Qatari royal family Al-Thani in the capital of Deutsche Bank which, lastly, had just over 6% in Deutsche Bank, divided between two separate investment vehicles, and the American investment fund Blackrock with 5,9%. The Chinese conglomerate holds the stake through Vienna-based asset management company C-Quadrat.
Hna's entry into the capital of Deutsche Bank dates back to February of this year and even then the Chinese conglomerate had said it wanted its stake which initially amounted to 3,04%, specifying that it did not want to exceed the 10% threshold. HNA had specified that it wanted to support the management as a stable shareholder of the credit institution and in March it had increased its presence to 4,76%, participating in the 8 billion capital increase launched by Deutsche Bank under the guidance of the CEO , John Cryan.
The Hna group is best known for the owned by airlines (Hainan Airlines), airports (Swissport) and hotels (Hilton) but also owns large stakes in the real estate and banking. According to recent rumors, even the Qatari royal family would have increased its stake in Deutsche Bank, bringing it to around 8%.
