China’s Wanda circles Postbank in search of European bank assets （602 words）

By Don Weinland in Hong Kong and Caroline Binham in London

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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.

But the interest in Postbank will be a boon to Deutsche, which has hit hurdles in its attempts to offload the German retail unit. One person familiar with the matter said Deutsche was seeking