Johnny Depp and Will Smith have known each other for years

Johnny Depp and Will Smith share an amazing camaraderie over the years.

A source spilled to the PEOPLE, “They see each other from time to time — both have busy travelling schedules, and Depp spends most of his time in the U.K.”

Earlier this week, Depp and Smith reportedly made an appearance at an Andrea Bocelli-honoring concert event following a yacht outing together in Italy.

The source told the outlet that the “actors have known each other for years and are fans of each other”.

“The two men are in the south of France at the same time, as most of Europe [is] at the moment,” said an insider.

The source stated, “They both share a passion for music outside of their acting careers.”

Depp and Smith lately enjoyed some downtime together during their trip to Europe, on a yacht with Egyptian singer Ahmed Saad.

In a photo shared on Instagram on July 12, Saad posted a photo with both stars, as he wrote, “Great feeling to gather with friends Thanks my friends for the lovely visit @johnnydepp @willsmith @ismailmansour1 #AhmedSaad #jonnydepp #willsmith.”

The source revealed that Depp and the Smith “were together en route to the Andrea Bocelli concert they’re both performing at”.

Meanwhile, TMZ reported that Smith and Depp were present during the opening night of the Red Sea International Festival in Saudi Arabia.