FRANKFURT (Reuters) -An undisclosed investor is selling shares in Deutsche Bank and Commerzbank, a bookrunner said on Monday, stakes that amount to more than 5% in Germany’s top two lenders.
The sale is for 116 million shares of Deutsche Bank and for 72.5 million shares of Commerzbank, according to a note announcing the sale.
One investor who holds such sizeable stakes in both banks is Capital Group of Los Angeles. A spokesperson for the investor declined to comment.
Capital Group had increased its stake to more than 5% in Deutsche Bank in November 2021. It increased its stake in Commerzbank to more than 5% in October 2020.
Representatives for Deutsche Bank and Commerzbank declined to comment.
In recent months, U.S. investor Cerberus began to shed its large stakes in both banks.
(Reporting by Tom Sims and Alexander HuebnerEditing by Mark Potter and Sandra Maler)
