Spanish financial giant Banco Santander confirmed that it has sold 10 historic properties to Grupo Pontegadea, the investment vehicle of Inditex chairman Amancio Ortega. The investment volume comes to EUR 458 mln. The bank added that the transaction will generate capital gains of EUR 216 mln. The Spanish lender has entered into a 40-year leaseback agreement and has retained the right to repurchase the properties on the expiration of the leases.
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