Security systems firm Tyco Intl looking to sell Korea unit - WSJ

Reuters

Nov 12 (Reuters) - Fire protection and security company TycoInternational Ltd has approached private equity firmsoffering to sell its Korean security unit Caps Co, the WallStreet Journal reported, citing people familiar with the matter.

Tyco sent information memoranda only to a few private equityfirms as it wants to proceed with the sale quietly, the WSJreported. ()

Morgan Stanley, Tyco's adviser for the potential deal,approached Seoul-based private equity firms MBK Partners,Carlyle Group and CVC Capital Partners, the newspaperreported.

MBK has hired Goldman Sachs as its adviser, while neitherCarlyle nor CVC are known to have sought advisers, the WSJreported.

The newspaper said the value of the deal was not known andit was not clear why Tyco wants to sell the unit.

Tyco could not be reached for comment by Reuters outside ofU.S. business hours.

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