May 8, 2018 / 12:12 AM / a year ago

S.Korea's SK Telecom to buy majority stake in parent of Carlyle-owned ADT Caps

SEOUL, May 8 (Reuters) - South Korea’s largest telecom firm, SK Telecom Co Ltd, said on Tuesday it will buy a majority stake worth 702 billion won ($651 million) in the parent firm of domestic security systems company ADT Caps.

SK Telecom said in a regulatory filing that it is buying a 55 percent stake in Siren Holdings Korea, a holding company that owns 100 pct of ADT Caps, to strengthen its security business and expand its household clients.

ADT Caps, a former unit of Tyco International Inc, was owned by Carlyle after the private equity firm bought it in an auction for $1.93 billion in February 2014. ($1 = 1,078.4100 won) (Reporting by Joyce Lee; Editing by Stephen Coates)

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