HNA buys stake in Deutsche Bank

Move aims to expand finance business and diversify operation structure

Chinese conglomerate HNA Group is seeking to expand its finance business and further diversify its operation structure after taking a stake in Deutsche Bank, the first Chinese investor to take a major stake in the bank.

Starting from Feb 15, HNA, the parent behind the country's largest private commercial airline, holds 3.04 percent of Deutsche Bank, according to the statement of the German bank.