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Deals

Capital Group fund discloses Deutsche Bank stake, combined holdings less than 5%

FILE PHOTO: The logo of Deutsche Bank is pictured on a company's office in London, Britain July 8, 2019. REUTERS/Simon Dawson

(Reuters) - U.S. investor Capital Group has bought more shares in Germany's largest lender Deutsche Bank DBKGn.DE, with funds controlled by the U.S. investment group owning a total of less than 5% of the bank, a regulatory filing showed on Tuesday.

“While the Capital Group has increased its shareholding in Deutsche Bank AG, the investment has not crossed the five percent threshold overall. The Euro Pacific Growth Fund shareholding is attributed to the Capital Group shareholding,” Deutsche Bank said.

Capital Group used its Euro Pacific Growth Fund for the additional stake purchase of 3.61 percent, after using a different fund for its initial investment, the filing shows.

The investment comes a week after Commerzbank disclosed that Capital Group has hiked its stake in Germany’s second-largest lender to 5.31%.

(This story officially corrects headline and first sentence to show that Deutsche Bank corrects to say that Capital Group holdings total less than 5%, not more than 7%. In 2nd paragraph, Deutsche Bank updates its statement to show that Capital Group has not crossed the 5% threshold.)

Reporting by Hans Seidenstücker; Writing by Arno Schuetze; Editing by Riham Alkousaa

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