Tyco International has reportedly drawn up a shortlist of private equity firms as potential suitors for its South Korean security unit Caps Co.
KKR, Bain Capital, IMM PE and Carlyle are running for the deal, said the Wall Street Journal, citing people familiar with the matter.
Bain has partnered with South Korean private equity firm Hahn & Co to bid for the unit, while Standard Chartered’s private equity arm and Affinity Equity Partners are also considering making offers for Caps Co, which could be valued at $1.4bn in a deal, said the report.
The Wall Street Journal said in November that Tyco had only sent information memoranda to a few private equity firms as it wanted to proceed with the sale quietly.
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