Tyco to sell South Korea unit to Carlyle for $1.93 bln

March 3 Mon Mar 3, 2014 6:23am EST

March 3 (Reuters) - Tyco International Ltd, a maker of fire safety and security systems, said it would sell its South Korean security business to private equity firm Carlyle Group for $1.93 billion.

Tyco on Monday also approved an additional share repurchase program of $1.75 billion, increasing the total authorization to $2 billion.

Tyco said it was selling Tyco Fire & Security Services Korea Co Ltd and its subsidiaries.