12th Sep 2008 11:15
OTHER COMMUNICATIONS
Banco Santander announces that it has today completed with the consortium led by the U.K. property investor Propinvest the sale of the Santander Financial City and the simultaneous lease of the same for a period of 40 years, with the Bank also reserving a purchase option right at the end of such period.
The amount of the transaction is 1,900 million euro, as initially contemplated. The capital gains obtained by Santander from this sale are close to 600 million euro.
With this transaction, Banco Santander concludes the process involving the sale of its own buildings in Spain which commenced in 2007 within the framework of the ABN AMRO acquisition transaction. The total sales amount to 4,434 million euro, with capital gains of 1,680 million euro approximately.
Boadilla del Monte (Madrid), 12th September 2008
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