Tyco to sell majority interest in Electrical and Metal Products segment

Tyco International Ltd. announced it is in the process of selling a majority interest in its Electrical and Metal Products reportable segment, with the transaction expected to close in the first fiscal quarter of 2011. Following the sale, Tyco will account for its remaining interest under the equity method.

“The Electrical and Metal Products reportable segment will continue to be reported separately until the completion of the sale of a majority interest in it is completed, which is expected to occur in the first fiscal quarter of 2011. Following the completion of the sale, the Company will account for its remaining interest in the business under the equity method”

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