Tyco Completes $1.93B Sale of South Korean Security Business to Carlyle

Tyco International Ltd. completed the sale of its South Korean security business, Tyco Fire & Security Services Korea Co. Ltd., to an affiliate of The Carlyle Group for $1.93 billion. The transaction was structured as a stock sale by Tyco's wholly-owned subsidiary Tyco Far East Holdings Ltd.

“On May 22, 2014, Tyco International Ltd. (the “Company”) together with its wholly-owned subsidiary Tyco Far East Holdings Ltd. (the “Seller”) completed the sale of Tyco Fire & Security Services Korea Co. Ltd. and its subsidiaries that form and operate the Company’s South Korean security business to an affiliate of The Carlyle Group pursuant to a stock purchase agreement previously reported in the Company's Current Report on Form 8−K filed with the SEC on March 4, 2014. The transaction took the form of a sale by the Seller of all of the stock of Tyco Fire & Security Services Korea Co. Ltd. for an aggregate purchase price of $1.93 billion, subject to customary adjustments as set forth in the stock purchase agreement.”

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