HNA increases stake in Deutsche Bank to almost 10%
The acquisition comes amid the Chinese conglomerate's continued overseas spending spree
HNA Group, which has made headlines inside and outside of China for defying capital controls with recent overseas spending, has yet again increased its stake in Deutsche Bank, reports Bloomberg.
The firm’s holding in Germany’s largest bank now stands at 9.92%, according to a filing on Tuesday, up from a reported 3% stake in February.
The increase puts HNA’s stake well above BlackRock’s 5.9%, which had previously been the largest.