Chinese conglomerate HNA Group has increased its stake in German lender Deutsche Bank to just over 9.9%.
The shipping and logistics group is said to have purchased 204.7m shares in the bank, according to a regulatory filing.
The move makes HNA, which holds the stake via investment vehicle C-Quadrat, the bank’s largest shareholder, reports Reuters.
Although HNA has said that its investment in Deutsche Bank is passive, the desire to boost its holding suggests HNA may have strategic ambitions.
