International legal practice Norton Rose Studio Legale has advised the Italian entrepreneur, Canio Mazzaro, on the preliminary phase of the recapitalisation of Bioera, a listed Italian food and cosmetics group currently in administration. The court of Reggio Emilia has approved Mazzaro’s offer to acquire and recapitalise Bioera, including his plan to carry out two Euro 9 million capital increases. The objective of the recapitalisation is to reinforce Bioera’s finances, restore its position as a leading company in the bio-food market and relaunch trading of Bioera shares by June 2011.

The Norton Rose Studio Legale team was led by corporate partner and Head of Italy, Paolo Daviddi, assisted by of counsel Donatella de Lieto Vollaro, associate Lucia Capotondi and trainees Priscilla Cremaschi and Antonio Ortu (all based in Milan).  Cecilia Buresti, partner and Head of dispute resolution (Italy), also based in Milan, advised on bankruptcy law aspects. Norton Rose Studio Legale is also advising on the subsequent phases of this matter, including the publication of a prospectus as required by Italian securities laws and the two capital increases.