In terms of regulation 5(4) of the Control of Concentrations Regulations, 2002 published in Legal Notice 294 of 2002, the Director General of the Office for Competition notifies for general information that a notification of a concentration between Cypress Holdings S.R.L., (Milan, Italy) and Advent Lifts Services Limited (Marsa) was filed on Wednesday, 7 February 2024.
The nature of the concentration is the acquisition by Cypress Holdings S.R.L. of Advent Lifts Services Limited.
Cypress Holdings S.R.L. forms part of the Otis group of companies whose ultimate parent company is Otis Worldwide Corporation. Otis is an elevator and escalator manufacturing, installation and service company, with a global network of over 1,400 branches. In Malta, it has so far supplied elevators and spare parts through an independent third party distributor.
Advent Lifts Services Limited is involved in the selling, installation, and maintenance of all types of lifts in Malta for both residential and commercial clients.
The Director General of the Office for Competition invites interested third parties to submit their written objections on this notified concentration within seven days following publication of this notice at the following address: