HNA plans to exit Deutsche Bank stake: WSJ

HNA plans to exit Deutsche Bank stake: WSJ

A spokesman for HNA on Friday declined to comment on a media report that the Chinese conglomerate was exiting its stake in German lender Deutsche Bank .

A HNA Group logo is seen on the building of HNA Plaza in Beijing
A HNA Group logo is seen on the building of HNA Plaza in Beijing, China February 9, 2018. REUTERS/Jason Lee

FRANKFURT: Chinese conglomerate HNA plans to exit its stake in German lender Deutsche Bank , The Wall Street Journal reported on Friday.

The WSJ, citing people familiar with the matter, said HNA intends to unload the vast majority of overseas investments it has made in recent years.

Spokesmen for Deutsche Bank and HNA in Frankfurt declined to comment. UBS, which is HNA's bank for the holding, also declined to comment.

HNA holds a 7.6 percent share of Deutsche Bank, according to the most recent data. Its stake has declined slightly over the course of this year.

(Reporting by Tom Sims and Andreas Framke; Additional reporting by Brenna Hughes Neghaiwi in Zurich; Editing by Maria Sheahan)

Source: Reuters

Bookmark