The Chinese became the main shareholders of Deutsche Bank

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The Chinese became the main shareholders of Deutsche Bank

The Chinese multi-profile conglomerate Hainan Airlines is unexpected for all, but, of course, not for itself, became the main shareholder of the German financial institution Deutsche Bank (DB). HNA Group increased the share of DB shares from 3.04%, which it acquired in February 2016, to 9.92%. At the beginning of May, the Chinese company's package consisted of 204 million shares, estimated at about 3.4 billion euros.
The new major shareholder of the largest German bank is known little about the fact that he became the main newsmaker in the financial world in the first days of May. HNA Group was established in 1993 on the island of Hainan with the help of local authorities. Then the company was called Hainan Airlines and was engaged exclusively in air transportation, as its name implies. Since then, almost a quarter of a century, HNA has significantly expanded its scope and turned into a multi-profile conglomerate with assets estimated at about $ 90 billion.
In recent years, HNA, in addition to air transportation, is actively investing in a variety of industries: tourism, logistics and financial services. Over the past year and the first quarter of 2017, HNA acquired an American IT distributor, Ingram Micro, a quarter of Hilton Worldwide Holdings; Swiss company Gategroup, serving airlines; And approx. 25% stake in the US branch of the British-South African insurance group Old Mutual.
Formally, HNA is not a public company, but its president, Chen Feng, participated in the last two congresses of the CCP. It is also known that in 2008 the company formed a joint venture with a company that was part of a group headed by the son of He Guoqiang, then head of the Central Commission for Discipline Inspection of the CCP.
Much is unclear with the owners of HNA. For example, one of the major shareholders, according to the company's website, lives in a dilapidated house in a poor district of Beijing.
HNA has made a big step forward thanks to impressive loans from state-supported lenders. Despite all its secrecy, even American politicians know about it. In January this year, HNA agreed to buy American investment company SkyBridge Capital. The president of SkyBridge is Anthony Scaramucci, who collected money for the Donald Trump election fund. Trump appointed Scaramacci as his business affairs advisor, but the appointment was not approved under the pretext of a conflict of interest.