Schindler to Sell South Korean Operations to Otis, Pending Regulatory Approval

Reuters

Oct 17

Schindler to Sell South Korean Operations to Otis, Pending Regulatory Approval

Schindler Group has reached an agreement to sell its South Korean business, Schindler Elevator Korea, to Otis Elevator Korea. Established in 2003, Schindler Elevator Korea operates throughout the Republic of Korea. According to Schindler Elevator Korea CEO Peter Schwarer, all existing customer contracts will be honored by the new owner, and employment terms for staff will remain unchanged. Completion of the transaction is subject to merger control review.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Schindler Holding Ltd. published the original content used to generate this news brief on October 17, 2025, and is solely responsible for the information contained therein.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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Established in 2003, Schindler Elevator Korea operates throughout the Republic of Korea. According to Schindler Elevator Korea CEO Peter Schwarer, all existing customer contracts will be honored by the new owner, and employment terms for staff will remain unchanged. Completion of the transaction is subject to merger control review.\n      \n\nDisclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. 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