Crew members get off a plane of Hainan Airlines, a subsidiary of HNA Group Co, after landing at Nansha Islands. [Photo provided to China Daily]
Chinese conglomerate HNA has cut its stake in Deutsche Bank to 7.9 percent, according to a US regulatory filing.
HNA, the aviation-to-financial services conglomerate, has been selling overseas real estate and some of its biggest financial and strategic investments following a $50 billion acquisition spree over the past two years.
It had already reduced its stake in Deutsche Bank down to around 8.8 percent from roughly 10 percent in February.
HNA's stake in Deutsche Bank is handled by asset manager C-Quadrat.
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