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Zara's founder Amancio Ortega buys skyscraper Torre Cepsa in Madrid

Xinhua, October 1, 2016 Adjust font size:

Zara founder Amacio Ortega bought skyscraper Torre Cepsa in Madrid, local media reported on Friday.

Torre Cepsa, a skyscraper located in the complex Cuatro Torres, was owned by Spanish lender Bankia which sold the building to International Petroleum Investment Company (IPIC), the Abu Dhabi state fund that owns the oil company Cepsa, for around 400 million euros (448 million U.S. dollars).

IPIC has transferred the building to Ponte Gadea, the real estate company owned by Ortega. Local media said the price amounted to 490 million euros, but Spanish newspaper El Pais specified that Ponte Gadea had not confirmed any figure.

Torre Cepsa has a surface of more than 109,000 square meters of offices that include 37,500 square meters of five garage floors. It was finished in 2009 and belonged to the company Repsol, Caja Madrid and Bankia.

Ortega became the world's wealthiest retailer at the beginning of the month after overcoming Microsoft's founder Bill Gates.

According to Forbes, Ortega's fortune reached 78.6 billion U.S. dollars on Sept, 7, which was above Bill Gates' fortune of 78.5 billion dollars. (1 euro = 1.12 U.S. dollars) Endit