Tyco International Announces Sale of Its Security Business in South Africa
08.22.16
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Simpson Thacher is representing Tyco International plc (“Tyco”) in connection with the announced sale of its security business in South Africa, which operates locally under the ADT brand, to Fidelity Security Group for approximately $140 million in cash.
Tyco’s security business in South Africa provides security monitoring services, including dispatch of armed response guards, as well as fire detection and protection, access control and other security-related services, to residential and commercial customers. The transaction is expected to close in the first quarter of 2017 and is subject to customary closing conditions, including regulatory approvals.
The STB Team working on the transaction includes Judy Huang and Nicole Annunziato (M&A); Lori Lesser and Genevieve Dorment (IP); and Andrew Purcell and Jasmine Hay (Tax).