Santander, Spain’s largest bank, is to sell €4bn ($5.3bn) of buildings and bank branches, including its new headquarters outside Madrid, to finance its part of the acquisition of ABN Amro. Financial Times

Santander has launched a €71.4bn break-up bid for ABN Amro along with the Royal Bank of Scotland, and Fortis, a Belgo-Dutch financial group.

Santander needs to raise €20bn towards the takeover and says that just over half that amount will come from securitisations, borrowing and asset sales, including a plan to offer almost all its commercial property in sale-and-leaseback deals.

The only building the bank will retain will be the original headquarters in the town of Santander, northern Spain.