Spain's largest bank Banco Santander has completed the sale of its head office in Madrid to a consortium led by the UK property investor Propinvest. The bank, which acquired ABN Amro Bank last year together with Fortis and Bank of Scotland, said in a statement to the market authorities on Friday that it has leased back the property, Santander Financial City, for a period of 40 years. The agreement includes an option for the bank to purchase the headquarters at the end of the period.
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