SEOUL (Reuters) - Private equity firm Carlyle Group (CG.O) has been selected as preferred bidder for Tyco International Inc’s TYC.N South Korean security systems unit, South Korean media reported on Wednesday.
The Korea Economic Daily newspaper said Carlyle beat out other private equity firms such as Affinity Equity Partners and KKR & Co LP (KKR.N) to buy ADT Caps for around 1.7 trillion won ($1.58 billion).
Representatives of ADT Caps and Carlyle could not be reached immediately for comment.
($1 = 1072.8500 Korean won)
Reporting by Joyce Lee; Editing by Paul Tait