Tyco International Ltd. agreed to sell its fire and security business in South Korea to Carlyle Group LP for about $1.93 billion and boosted its share buyback program to $2 billion.

Tyco, based in Schaffhausen, Switzerland, is selling Tyco Fire & Security Services Korea Co. and subsidiaries that form the ADT Korea security business, the company said today in a statement. The transaction is the biggest private-equity buyout deal in U.S. dollar value in Korea since 2008, according to Carlyle, a Washington-based asset management firm.

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