HNA Group Co. Ltd. is considering off-loading its entire shareholding in Deutsche Bank AG after being put under pressure by Chinese regulators to address its liquidity problems and mounting debt, The Wall Street Journal reported, citing people familiar with the matter.
The beleaguered Chinese conglomerate, which holds a 7.6% stake in the German lender, plans to gradually sell the holding over the next 18 months, the Journal noted. The firm is also in talks to dispose of its other assets, including California-based technology distributor Ingram Micro Inc. and stakes in dozens of Chinese banks, trusts and insurance companies, according to the sources.
HNA's assets, including the Deutsche Bank stake, are currently valued at more than $10 billion, according to the Journal's calculations.
Spokesmen for both HNA and Deutsche Bank declined to comment on the matter, Reuters noted.