Lenders are finalizing the sale of Northern Fiber Holding GmbH to iCON Infrastructure to prevent the German fiber-network operator from sliding into insolvency. The company, previously owned by UBS Asset Management, faced a critical deadline after its standstill agreement expired at the end of June. This rescue deal secures the operator's survival through a strategic acquisition.

Consent from all lenders was a prerequisite for the transaction to proceed. These creditors provided more than €300 million in funding to the struggling firm. The deal stalled until Norddeutsche Landesbank Girozentrale agreed to the terms on Friday, ending a period of resistance that threatened to block the rescue effort and force a bankruptcy filing.

This acquisition removes a significant risk for the lending group by avoiding a chaotic liquidation process. By securing the agreement from Norddeutsche Landesbank Girozentrale, the parties resolved the primary obstacle to the sale. The transaction ensures that the fiber infrastructure remains operational under new ownership rather than facing insolvency under its previous structure.