Lilium has already received more than 700 orders, including in the United States, the United Kingdom, France and Saudi Arabia. Photo: Lilium Lilium,

Lilium narrowly avoids bankruptcy | Paperjam English News

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2024-12-26 17:30:16

Lilium has already received more than 700 orders, including in the United States, the United Kingdom, France and Saudi Arabia. Photo: Lilium

Lilium, the German manufacturer of flying taxis, has found an investor to avoid bankruptcy and plans to recall 1,000 employees recently made redundant. The Mobile Uplift Corporation investment consortium, made up of experienced investors from Europe and North America, is buying Lilium's operating assets.

This transaction, which should be effective from the beginning of January 2025, will enable the involved subsidiaries to restart their operations. The amount of the transaction has not been disclosed. The proceeds of the sale will be used in accordance with German insolvency law, with no redistribution of funds to Lilium N.V.. KPMG, which led the M&A process, played a key role in the financial reorganisation.

"We are very pleased to announce the signing of an investment agreement with a highly experienced consortium, which represents a major step forward," said Lilium CEO Klaus Roewe. "Completing the deal in January will allow us to re-launch our business."