The Bulgari Family, majority shareholder of the renowned Italian House established in 1884 by Sotirio Bulgari, has decided to join forces with the LVMH Group in order to reinforce, in accordance with its history, values, craftsmanship and identity, the long term development of the Bulgari Group. A synonym of creativity and excellence the world over, Bulgari is renowned as one of the major players in its sector and occupies a strong leadership position in the jewelry and watch segment, while playing an important role in the fragrance, cosmetic and accessories segments as well.

The agreement was concluded this weekend and was approved unanimously by the LVMH Board of Directors Sunday evening. The Board of Directors of Bulgari S.p.A. has also unanimously approved the project of contributing to LVMH the Family’s majority shareholding in Bulgari S.p.A. Upon completion of the share transfer process, LVMH will issue 16.5 million shares in exchange for the 152.5 million Bulgari shares currently held by the Bulgari Family, who will thus become the second largest family shareholder of the LVMH Group. In compliance with the Italian Stock Exchange regulations, LVMH will submit a Public Purchase Offer at the price of €12.25 per share on the shares held by minority stockholders, further details of which are described in the press releases issued today.

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