Tyco Completes Sale of ADT Automotive for $1 Billion in Cash.

Canadian Corporate News,  October, 2000  

Tags: Tyco International Ltd.

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PEMBROKE, Bermuda, Oct 09, 2000

Tyco International Ltd. (NYSE: TYC; LSE; TYI; BSX: TYC), a diversified manufacturing and service company, today announced that it has completed the sale of its ADT Automotive business to Manheim Auctions, Inc., a wholly owned subsidiary of Cox Enterprises, Inc., for $1 billion in cash. The sale will generate a one-time gain to Tyco of approximately $300 million.

"This sale continues our strategy of focusing on our four key segments of Telecommunications and Electronics, Healthcare and Specialty Products, Fire and Security Services, and Flow ...

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