Linklaters advised Athene Holding Ltd on the acquisition of the German business of the Delta Lloyd Groep, which operates its life insurance business in Germany as a run-off operation. The seller is Delta Lloyd N.V. based in Amsterdam. The closing of the transaction is still subject to the regulatory approvals.

Athene Holding, through its subsidiaries, is a leading provider of annuity and retirement savings products in the U.S.

Delta Lloyd’s German life insurance business, on which the transaction focuses, primarily includes Delta Lloyd Lebensversicherung AG based in Wiesbaden. The purchase of Delta Lloyd Deutschland AG and its subsidiaries provides Athene with an excellent entry point into the German marketplace.

Linklaters’ team was led by Dr. Wolfgang Krauel (Partner, Corporate, Munchen) und Dr. Frederik Winter (Partner, Aufsichtsrecht, Frankfurt). The team also included Prof. Dr. Georg Annub (Partner, Arbeitsrecht, Munchen), Dr. Markus Appel (Partner, Umweltrecht, Berlin), Dr. Carsten Grave (Partner, Kartellrecht, Dusseldorf), Florian Lechner (Partner, Steuerrecht, Frankfurt), Markus Wollenhaupt (Partner, Investment Management, Frankfurt), Dr. Konrad Berger (Counsel, Technologie, Medien, Telekommunikation, Munchen),  Jan Rudolph (Counsel, Arbeitsrecht, Munchen), Dr. Thomas Broichhausen (Managing Associate, Corporate, München), Holger Ebersberger (Managing Associate, Corporate, Munchen), Dr. Ulrich Johann (Managing Associate, Steuerrecht, Munchen), Dr. Bjorn Strehl (Managing Associate, Real Estate, Frankfurt), Rieke Bickelmann, Marc-Oliver Eberspacher, Jennifer Kramar, Andrea Ney (alle Associate, Corporate, Munchen) and Janis Petrowsky (Associate, Aufsichtsrecht, Munchen).