The aviation-to-financial services conglomerate is suffering financial strain following a $50 billion acquisition spree over the past two years, which has sparked regulatory scrutiny of its opaque ownership and use of leverage.
A message to an HNA spokesman seeking comment was not immediately answered.
The Financial Times first reported the stake sale, noting that HNA had initially held 9.9 percent of Deutsche Bank but that filings showed last week its share of voting rights had fallen to 9.2 percent.
C-Quadrat said the holding was “approximately 8.8 percent” as of Feb. 16.
