Stock Groups

Investor sells big stakes in Deutsche Bank, Commerzbank: Bookrunner

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Deutsche Bank (L) is the German bank headquarters. Commerzbank’s Frankfurt office can be found in Germany.

FRANK ROUMPENHORST, DPA | DPA | Getty Images

A bookrunner reported Monday that a unidentified investor sold shares in Commerzbank and Deutsche Bank, adding that the stakes total more than 5% of Germany’s two top lenders.

According to the note that announced the sale, it is being done for 116 millions shares of Deutsche Bank as well 72.5 million Commerzbank shares.

Capital Group of Los Angeles, a large investor in the banks, holds such large stakes. The spokesperson of the investor refused to comment.

Capital Group increased its stake in Deutsche Bank to over 5% in November 2021. The stake it held in Commerzbank was increased to over 5% by Capital Group in October 2020.

Deutsche Bank Representatives and Commerzbank representatives declined to comment.

Cerberus, a U.S.-based investor, began to sell its substantial stakes in the banks over recent months.

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