April 22, 2018 / 6:21 PM / 8 months ago

HNA cuts stake in Deutsche Bank: filing

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

BERLIN (Reuters) - Chinese conglomerate HNA has cut its stake in Deutsche Bank (DBKGn.DE) to 7.9 percent, according to a U.S. 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.

Reporting by Victoria Bryan; editing by David Evans

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