Funds linked to Qatar’s Sheikh Hamad bin Jassim Al-Thani family have upped stakes in Germany’s Deutsche Bank to near 10%.
The increase in the stake via Paramount Services Holdings and Supreme Universal Holdings means that the Qataris are now Deutsche Bank’s biggest shareholder, ahead of asset manager BlackRock, which has a stake of roughly 6%.
Al-Thani bought into the bank in 2014 as part of an €8 billion capital raising.
The bank’s shares have dropped 42% this year and more than 54% in the past 12 months, to €13.02 as of Friday.
Further reading:
Qatari royal family boosts stake in Deutsche Bank
Deutsche Bank names lawyer to supervisory board at Qatar’s suggestion