Luxottica Renews Bulgari License, Reports That Barberini Deal Is Expected to Close Soon

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CHARENTON-Le-PONT, France—Luxottica announced earlier this week within the EssilorLuxottica first half financials (Reuters: ESLX.PA) that the company and Bulgari SpA signed the early renewal of an exclusive license agreement for the development, production and worldwide distribution of sunglasses and prescription frames under the Bulgari brand. The three-year renewal will be effective starting Jan. 1, 2021, immediately following the expiration of the existing agreement, and is scheduled to expire on Dec. 31, 2023. In addition, the company said that all relevant antitrust approvals were obtained regarding the acquisition of glass-lens maker Barberini by Luxottica, a deal announced on June 22, 2018 and previously reported by VMail.

Luxottica noted "all the conditions precedent to the transaction closing have been met. The closing is expected to take place in the near future."