The Chinese conglomerate HNA Group sold part of its share in German Deutsche Bank, but remains significant shareholder. The HNA Group holds 9.2% of voting rights in Deutsche Bank, a slight decline of 9.9%. However, the Chinese conglomerate currently has only 4.3% of the shares in its hands, and the rest were leased, against which the conglomerate received cash.
HNA Group has an urgent need for fresh money after spending billions of dollars over the past few years to fulfill its plan to buy a number of companies around the world including a stake in Deutsche Bank.
The group from China is now selling 4 billion USD worth of real estate assets in the US, looking for a way to reduce the debts.
It even turned out that had asked employees to invest in her initiatives by promising a good return.
So the move is not a decline in confidence in Deutsche Bank and its development strategy, but urgent need of raising cash flows and operating capital.