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.