Arab investors with large cash reserves are competing with other international moneyed investors looking for bargains in the European Union due to the economic crisis. According to a report published in factiva and FT GMM, \"This week it was learnt that private Arab investors have expressed an interest in acquiring the Huta Pokoj steel corporation in Poland, which was in advanced negotiations with a Singapore acquisition fund. It is reported that Indian investors have also expressed interest.\"

Huta Pokoj is one of the few profitable steel companies in the European Union, but has been offered for sale by owners who wish to concentrate on their other businesses during the current turmoil. It offers an example of the strong opportunities now available in Europe: in 2007 the firm was valued for an IPO by the Italian bank UniCredit at roughly US$700 million, but in today\'s market experts estimate that it will sell for less then half this sum at around US$375 million.

Huta Pokoj, S.A. is a Polish registered legal entity which owns and operate the Steel Mills in Ruda Slaska (Poland).  62.131% of the outstanding issued and paid-up share capital of Huta Pokoj are held via a holding structure by the controlling parties: 21.74% Eli Reifman, 40.38% Boris Bannai. The rest is held by: 25% Polish Government Treasury and 12.88% employees.

The benefits of picking up such assets at their low prices may not be long in coming; Although European steel producers cut back production and reduced manpower last year, industry leader ArcelorMittal this week forecast that the recovery in the European steel market would begin by the end of the year.