Deutsche Bank Says Top Investor Capital Group Raises Stake
- The U.S. firm already is the No. 2 investor in Commerzbank
- Total holding of the firm remains below 5% reporting threshold
Sunlight reflects off the Deutsche Bank AG twin tower headquarters, right, in Frankfurt.
Photographer: Alex Kraus/BloombergThis article is for subscribers only.
Deutsche Bank AG said Capital Group, already a top investor in the German lender, raised its stake in a sign of confidence in Chief Executive Officer Christian Sewing’s turnaround plan.
The Euro Pacific Growth Fund, part of the American Funds family of mutual funds, held 3.61% of Deutsche Bank as of Oct. 6, according to the German lender’s website. The stake was disclosed separately from the 3.74% holding that parent Capital Group reported owning as of March, prompting media reports that the firm controlled more than 7% in total, which would have made it the lender’s largest investor.