HNA Reduces Deutsche Bank Stake to 9.2% From 9.9%
By Max Bernhard
HNA Group (HNAG.YY) decreased its stake in Deutsche Bank AG (DBK.XE) to 9.2% from 9.9%, according to regulatory filings.
HNA, Deutsche Bank's biggest shareholder, holds its stake in the German bank through asset manager, C-Quadrat.
According to the regulatory filings, HNA now holds 4.3% of Deutsche Bank through shares and 4.9% through financial instruments.
In a statement, HNA said it would continue to be a significant investor in Deutsche Bank. It said it made changes in direct holdings and financial instruments in connection with "the implementation of a long-term-oriented financing structure" of its Deutsche Bank stake.
"It is possible that voting right thresholds will be temporarily crossed--with corresponding voting rights announcements--due to changes in direct holdings and financial instruments," HNA said.
Write to Max Bernhard at Max.Bernhard@dowjones.com; @mxbernhard
(END) Dow Jones Newswires
February 09, 2018 07:02 ET (12:02 GMT)Copyright (c) 2018 Dow Jones & Company, Inc.