The company announced completion of its ADT Automotive business to Manheim Auctions, Inc., a wholly owned subsidiary of Cox Enterprises, Inc.

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 Control,'' said L. Dennis Kozlowski, Tyco's Chairman and Chief Executive Officer.

Tyco in $1b sale "This transaction will immediately enhance Tyco's already strong cash flow, which we will continue to reinvest in each of our four businesses to further drive Tyco's growth.'' ADT Automotive is a wholesale automobile auction company with 28 locations in the US. The company was originally acquired as part of Tyco's acquisition of ADT Limited in July 1997.