China’s largest property developer Dalian Wanda Group has set its sights on banks in Europe, including Germany’s Postbank, as it diversifies away from its core real estate business.
The Beijing-based group led by China’s richest man is actively looking at several European financial institutions, three people familiar with the matter said. Postbank — which has been put up for sale by Deutsche Bank — was among the institutions on Wanda’s list, according to two of those people.
The company’s hunt for financial assets was at an early stage and so far there has been no official approach to Deutsche, said the people.
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