Deutsche Bank said two investment vehicles of members of the Qatari royal family, which are among its biggest shareholders, increased their stakes in the company after the stock slid.
Bloomberg News reports that Paramount Services Holdings and Supreme Universal Holdings raised their respective stakes to “just under” 5%, the lender said in a statement from Frankfurt on Friday. Deutsche Bank didn’t say when or at what price the additional shares were purchased.
The investment companies held stakes of 3.05% each on August 20 of last year, according to Deutsche Bank’s website. The stock has fallen by more than 50% since then.
Deutsche Bank CEO John Cryan is trying to reverse the stock slump, which has made his firm the worst-valued global investment bank, by shrinking assets and eliminating jobs. His task has become harder as the prospect of slower economic growth after the U.K.’s decision to leave the European Union risks deterring securities sales and major deals.
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