HNA Reduces Deutsche Bank Stake to 9.2% From 9.9%

02/09/18 07:02 AM EST
   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)

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