Simpson Thacher & Bartlett, Clifford Chance, Kim & Chang and Lee & Ko have scored advisory roles on Tyco International’s sale of its South Korean security business, ADT Korea, to private equity firm Carlyle Group for $1.93 billion.

Tyco International, a maker of fire safety and security systems, also said its board had approved an additional share repurchase programme of $1.75 billion, increasing the total authorization to $2 billion.

Tyco put ADT Korea up for sale last year, attracting bids from Affinity Equity Partners, Bain Capital, KKR & Co and South Korea’s MBK Partners as well as Carlyle, Reuters previously reported.

ADT Korea offers central monitoring, access control, video surveillance control and other integrated security services, Tyco said, adding that the transaction was expected to close in the second quarter.

Simpson Thacher and Kim & Chang are advising Tyco, while Clifford Chance and Lee & Ko are counsel for Carlyle Group.

New York corporate partner Alan Klein is heading the Simpson Thacher team, which also includes New York partners Lori Lesser (IP) and Rob Holo (Tax), and Hong Kong-based partners Jin Park (Corporate) and Sinead O’Shea (Credit).

Hong Kong-based partner Simon Cooke is leading on the transaction for Clifford Chance, alongside the firm’s Seoul managing partner Hyun Kim, and Hong Kong partners Anthony Wang and Matthew Truman.

Carlyle Group said it had secured committed debt financing from Korea Exchange Bank, Kookmin Bank, Industrial Bank of Korea, Korea Investment & Securities and UBS AG.

This is the second big private equity transaction in South Korea this year. KKR and Affinity Equity Partners sold Oriental Brewery to Anheuser-Busch InBev SA in January for $5.8 billion.

Kanishk Verghese is North Asia journalist at ALB. Follow us on Twitter: @ALB_Magazine.