November 23, 2012 / 4:45 PM / 5 years ago

Mohawk Industries in advanced talks to buy Italy's Marazzi-sources

MILAN, Nov 23 (Reuters) - U.S. ceramic tiles maker Mohawk Industries is in advanced talks to buy the unlisted Italian ceramics maker Marazzi Group, two sources familiar with the deal said on Friday.

“The talks are in an advanced stage with due diligence ongoing, though it is still not completely sure if the deal will go through,” said one source.

A second source said the parties were looking at the final details. “But it’s a very complex operation. Marazzi is a very articulated group... Mohawk is evaluating the company very carefully,” the source said.

The second source said the price of the deal was around $1.2 billion.

Marazzi declined to comment while Mohawk was not immediately available for a comment.

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