FRANKFURT—The group of investors seeking to take over electric aircraft manufacturer Lilium plans to invest more than €200 million ($205 million) into the insolvent company.
Mobile Uplift Corporation (MUC) also said in a statement Jan. 2 that it expects the transaction to close “in the first quarter.”
The group, led by Munich-based private equity firm General Capital and its CEO Philipp Schoeller, agreed to buy Lilium’s operating assets on Dec. 24. Primary investors are a fund managed by U.S. private equity group Fifth Wall and a yet-unnamed European financial investor. General Capital and Earlybird, the initial MUC backers, also are participating with small stakes, as are battery producer CustomCells and some of Lilium’s…
