Wall Street Journal – U.S. industrial conglomerate Tyco International Ltd. is approaching global private-equity giants to sell its Korean security unit Caps Co. in entirety, people familiar with the matter said Tuesday.
Tyco disseminated an information memorandum only to a small number of private-equity firms as it seeks to proceed with the sale quietly, two of the people said.
Morgan Stanley, Tyco’s adviser for the potential deal, approached Seoul-based private equity MBK Partners, The Carlyle Group and CVC Capital Partners, the people said. MBK named Goldman Sachs as its adviser, one of the people said. Neither Carlyle nor CVC are known to have sought advisers.
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