Spanish court rules Reuben Brothers won tender for Banco HQ worth USD 325 mn

Privately-owned Reuben Brothers Resources Group (RBRG) won a tender for Banco Santander's headquarters near Madrid with an offer of 283 million euros ($325 million), beating a rival bid by the bank itself, a Spanish court ruled on Monday.

A Santander spokesman said it would appeal against the result of the tender, which was part of a liquidation settlement of Marme Investments. Santander, which sold its headquarters to Marme in 2008 for 1.9 billion euros in a 40-year sale-to-leaseback deal, had offered 232 million euros.