Shanghai: Chinese conglomerate HNA Group has become the largest shareholder in Germany’s biggest lender Deutsche Bank after raising its stake to nearly 10 per cent, according to a regulatory filing.
HNA Group, an aviation and shipping group, leapfrogged US management giant BlackRock after its holding in Deutsche Bank reached 9.92 per cent, worth 3.4 billion euros ($3.7 billion), according to the US public filing this week.
BlackRock held a stake of 5.88 per cent in the European banking giant as of April. HNA has been on a buying spree of overseas assets from hotels to airlines. — AFP
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