US: Empire flooring will be sold for $1.5bn

By David WojnarowskiWASHINGTON, March 15 (Reuters) – US flooring maker Empire floor is preparing to sell its US empire floor to a Chinese company for $5 billion, according to people familiar with the matter.

Empire has been negotiating with a Chinese buyer for several years, and the deal is expected to close in the second quarter of 2019, the people said.

The deal could have a broad impact on American floor sales.

The companies have been working on a deal for months, and now the two sides have reached a price, according the people.

The two sides are finalizing the details, they added.

A sale of the Empire empire floor would represent the second time in less than a year that a major US floor company has been sold to China.

In May, American floormaker Eames and Saks Fifth Avenue said they were closing two floors in Shanghai.

In March, Empire said it would buy a 1.8 million square foot space in New York for $300 million, and is working with a buyer in China for another $600 million.

The company also plans to purchase an additional 1 million square feet of office space in the city.

Empire and Sames declined to comment on the news.

The Empire empire is an elegant American flooring company.

It specializes in luxury flooring made in the United States, with flooring in a wide variety of styles and finishes.

Empire’s empire floors are the best-selling flooring product in the world, with a market share of more than 20 percent, according data from Euromonitor International.

Empire is also the world’s largest floor installer.

(Reporting by David Wajnarowski in Washington; Editing by Richard Chang)

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