DOM.RF becomes owner of former subsidiary of Otis elevator manufacturer

MOSCOW. Sept 9 (Interfax) - DOM.RF Bank , part of the state-owned corporation of the same name, has acquired Meteor Lift, a former subsidiary of U.S.-based Otis elevator manufacturer.

Unified State Registry of Legal Entities (USRLE) data indicate that the bank acquired a 100% stake in Meteor Management Company, which in turn fully owns Meteor Lift and Meteor Sigma Lift. The assets had previously been pledged as collateral to DOM.RF Bank.

Meteor Management Company became the owner of Meteor Lift in July 2026, prior to which Meteor Lift was wholly owned by JSC Ice Development, part of the S8 Capital holding company, which develops IT solutions for the financial, retail, telecommunications, e-commerce, and media sectors, RBC reports.

The DOM.RF Group currently includes the Scherbinka Elevator Plant.

Meteor Lift comprises Meteor Lift, Meteor Lift Moscow, and Meteor Lift Scherbinka.

"DOM.RF Group has become the new owner of Meteor Lift. This move aligns with the DOM.RF Group's strategy, leveraging its experience in developing elevator-manufacturing assets. It is too soon to discuss merging this asset with the Scherbinka Elevator Plant," the company's press service told Interfax.

Meteor Lift's manufacturing and service divisions have been transferred to the group's entity, DOM.RF clarified.

"All necessary procedures were carried out in strict compliance with the requirements of the Russian Federal Antimonopoly Service (FAS) and antitrust legislation," a company representative emphasized.

In the spring of 2022, Otis announced that it would cease accepting orders for new elevators and escalators in Russia and suspend investments in its Russian operations. That summer, the U.S. company sold its Russian assets to Armen Sarkisyan's S8 Capital holding. Subsequently, Otis Russia began operating under the Meteor Lift brand.