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31 May 2012
Frankfurt am Main, Germany
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20 June 2012
London
Spain's Santander to sell e319m asset amid run on Banif fund
Spanish bank Santander has put the Plenilunio retail leisure centre, valued at e319m, up for sale in its Santander Banif Inmobiliario FII following the announcement that it is unable to meet redemption requests amounting to e2.62bn, which represents 80% of the current fund asset value. The fund put in a request to the CNMV, Spain's stock market regulator, for a two-year freeze on repayments. Pleniluio is the flagship asset of the fund and is located near Madrid's Barajas airport. It was purchased in 2006 for e280m.