DWS backs Frankfurter Leben-Athora Germany deal with Restricted Tier 1 investment
The deal is expected to complete in mid-2027, subject to regulatory approvals.
DWS Group will support Frankfurter Leben Gruppe’s acquisition of Athora Deutschland by investing a low to mid double-digit million euro amount in a Restricted Tier 1 capital instrument, alongside a strategic collaboration on the takeover. Athora said on 13 August 2026 that it had entered into a definitive agreement to sell Athora Germany to Frankfurter Leben.
The sale covers Athora’s German life and pensions business as well as related holding and regulated entities. Frankfurter Leben Gruppe is acquiring Athora Deutschland in its seventh transaction.
DWS said it would act as a long-term financing partner and strategic collaborator to Frankfurter Leben on the transaction. Completion remains subject to regulatory approvals and is expected in mid-2027.
