Business
Trasteel Holding S.A., a European Leader in Steel Trading and Processing, Agrees to Go Public Through a Business Combination with Sizzle Acquisition Corp. II
Luxembourg, Switzerland, April 13, 2026 (GLOBE NEWSWIRE) -- Trasteel Holding S.A. (“Trasteel”), headquartered in Lugano (Switzerland) and Luxembourg, and Sizzle Acquisition Corp. II (Nasdaq: SZZL) (“Sizzle II”), a Cayman Islands publicly traded special purpose acquisition company, today announced that they have entered into a definitive agreement, dated April 13, 2026, for a business combination (“Business Combination Agreement”) to form a new global steel trading and industrial public holding c
About this update from Sizzle Acquisition Corp. Ii
[{"type":"text","content":"Luxembourg, Switzerland, April 13, 2026 (GLOBE NEWSWIRE) -- Trasteel Holding S.A. (“Trasteel”), headquartered in Lugano (Switzerland) and Luxembourg, and Sizzle Acquisition Corp. II (Nasdaq: SZZL) (“Sizzle II”), a Cayman Islands publicly traded special purpose acquisition company, today announced that they have entered into a definitive agreement, dated April 13, 2026, for a business combination (“Business Combination Agreement”) to form a new global steel trading and industrial public holding company (“Pubco”). Upon closing of the business combination, subject to approval by Trasteel and Sizzle II shareholders and satisfaction of other customary closing conditions, Trasteel and Sizzle II intend to list Pubco on the Nasdaq Stock Market LLC, under the symbol “TSTL”, with each of Trasteel and Sizzle II becoming wholly owned subsidiaries of Pubco. The closing is expected to occur by the end of 2026.","length":909,"tagName":"p"},{"type":"text","content":"Trasteel was formed in 2009 and is currently owned by Giuseppe Mannina, Fratelli Cosulich Spa and Gianfranco Imperato. Over the past 17 years, Trasteel has evolved from a pure steel trading business into a dual business model combining trading operations (approximately 50% of sales) covering all the needs of the steel supply chain, including energy, with industrial steel transformation (approximately 50% of sales). The company operates in over 60 countries around the world across the steel value chain through steel and raw materials trading, steel related consumables trading, non-ferrous trading, energy trading and industrial transformation. It also trades alumina, silicon carbide, graphite, cassiterite, bauxite, copper, zinc, nickel, chromium, titanium, and tin. Trasteel’s industrial division owns a portfolio of 13 factories in 6 countries, and the company sells to over 4,000 customers worldwide.","length":910,"tagName":"p"},{"type":"text","content":"Trasteel intends to use the proceeds from the business combination for accretive strategic acquisitions and investments, working capital and other general corporate purposes.","length":174,"tagName":"p"},{"type":"text","content":"Management Commentary","length":21,"tagName":"p"},{"type":"text","content":"“We are enthusiastic to partner with the Sizzle II team to become a publicly traded company on Nasdaq,” said Trasteel’s Chairman, Giu...