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March 19, 2010

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Hua Xia Bank German lender holds biggest stake

CHINA'S medium-sized Hua Xia Bank said yesterday Deutsche Bank AG became its largest shareholder after acquiring the Chinese lender's shareholder, Sal Oppenheim Jr & Cie SCA.

The German bank's stake in Hua Xia totals 17.12 percent, with a total of 855 million shares, after the buyout of the Luxembourg-based private bank Sal Oppenheim Jr & Cie SCA, which held a 3.43 percent stake, said the Chinese lender in a statement to the Shanghai Stock Exchange.


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