|  According to a report on the front page of today's El Pais, the Banco Santander that owns Abbey is selling off all the buildings it owns in Spain - with the exception of the company's historic headquarters on the Paseo de Pereda in Santander - for around four billion euros.
Under the terms of sale, the bank will remain as long-term tenants in the 44 buildings in question, and will retain re-purchase options.
The company is hoping to achieve a profit of around €1.4 billion on the deal which it is thought will be used to fund further international expansion.
Notwithstanding, a spokesman for the company has insisted that the deal is unrelated to a joint bid by Santander, the Royal Bank of Scotland and Fortis to acquire the Dutch bank, ABN Amro, for €71 million euros. |
