David and Simon Reuben, the billionaire brothers, have present an offer to acquire the headquarters of Santander that is located in Madrid. They are setting their sights on the €3 billion (£2.6 billion) campus of the bank that has caught the eye of various funds and investors from all over the world.
The Reubens were ranked fourth in the Sunday Times Rich List of this year with
a fortune that is worth approximately £15 billion.
A source who is close to the matter confirmed the reports that the media-shy duo has already made an offer for the said complex, which is being sold off in the Spanish courts after its former owner went bankrupt way back in 2015.
In recent months, the rumours that Santander is also interested in buying back their 40-year lease have emerged, even though the bank refused to comment when it was approached this evening.
Reportedly, Blackstone, the US investor, and AGC Equity Partners, a private equity firm, have also been interested in the vast complex, which has a golf course and an infant education centre for as much as 500 children.
The pair are both born in Mumbai. They made much of their £14 billion wealth as the ‘metal tsars’ trading in the Russian aluminium industry many decades ago. They are competing for the asset in what is believed to be the second round of bidding.
The news was first reported in today’s Sunday Times. It comes several months after the Reubens snapped up Mayfair’s Burlington Arcade for around £300 million, adding the West End shopping destination to their growing portfolio in London, which includes Millbank Tower and the John Lewis Partnership headquarters that is located in Victoria.