Otis completed the acquisition of the remaining 49.99% stake in Zardoya Otis for $1.9bn.

Otis, a company for elevator and escalator manufacturing, completed the acquisition of the remaining 49.99% stake in Zardoya Otis, a firm manufacturing and installing elevators, for $1.9bn. "Zardoya Otis has been an integral part of Otis since 1972 and its products, services and geographic footprint are critical components of our long-term growth strategy. While we have deep respect for Zardoya Otis' heritage, delisting the Company will simplify Otis' corporate structure, provide for more streamlined management of the business, and generate operational efficiencies for both businesses," Judy Marks, Otis President and CEO. On March 1, 2022,  Otis Receives CNMV approval.