Four banks including Deutsche Bank AG and HSBC Holdings Plc were stuck with as much as 25 percent of a 1.24 billion-euro ($1.41 billion) share sale in German car-parts maker Schaeffler AG after investors balked at the price, according to people familiar with the matter.
The stake will be split between Deutsche Bank, HSBC, Bank of America Corp. and Citigroup Inc., which also advised on the sale, said the people, who asked not to be named as the details aren’t public. Commissions could help offset any potential losses if the banks sell the shares at a price lower than what they bought them for, they said.
