There were reports from various sources that Bradford & Bingley was to be nationalised in its entirety, because a suitable buyer had not been found. On 29 September 2008, it was announced that the Spanish Santander Group would acquire all of Bradford & Bingley's £20 billion (2.7 million customers) savings business and branches. Santander paid £612 million, including the transfer of £208 million of capital relating to offshore companies. Bradford & Bingley's 197 retail branches, 141 agencies and related employees were transferred to Santander's subsidiary Abbey. The mortgage book, personal loan book, headquarters, treasury assets and its wholesale liabilities were taken into public ownership and closed to new business.