Deutsche Bank, An international investment Company, has taken a major stake in Tasmanian timber Company Gunns.

Last week, The German bank bought 44 million shares or 5.5 percent of Gunns, according to a stock exchange report.

Deutsche Bank, which is based in Frankfurt, has purchased the Gunns shares through its London Branch.

After 37 percent of the Company changed hands in frenzied selling over the past week, new major Gunns shareholders were likely to emerge the Analysts predicted.

Financial Analyst Matthew Torenius says Deutsche Bank has bought the shares on behalf of another investor.

"There is the potential that Desutsche is buying on behalf of a third party and the details of that third party haven't been disclosed yet. I think it's more likely that Deutsche Bank, in its role as a broker, has ended up with 5 percent. It would have a number of clients that have been buying and selling the stock", he said.

Meanwhile, Gunns has completed the sale of its Tasmanian hardware stores to Woolworths subsidiary John Danks and Son.

The sale includes five hardware stores, a joinery centre and a truss manufacturing plant for $40 million.

A spokeswoman for the Australian Competition and Consumer Commission says the sale is still being reviewed.

On the ASX this morning Gunns shares have dipped slightly to 47 cents.