Tyco Closes $1.93 Bln Sale Of Security Business In South Korea

(RTTNews) - Tyco (TYC) said Thursday that its subsidiary Tyco Far East Holdings Ltd has closed the sale of Tyco Fire & Security Services Korea Co Ltd and its subsidiaries (ADT Caps Co Ltd., Capstec Co Ltd and ADT Security Co Ltd) that form and operate the company's South Korean security business (ADT Korea) to Carlyle Group (CG) in a deal valued at $1.93 billion.

ADT Korea is a provider of advanced security solutions in South Korea, serving about 475,000 small-and-medium-sized businesses, commercial and residential customers through 7,500 employees.

Switzerland-based Tyco provides security, fire detection, suppression, and life safety products and services.