A Picasso, worth 25 million, was seized by French police on board a yacht in Corsica, a short time before it was sold to a Swiss buyer. The painting, “Head of a Young Woman”, is considered national heritage from Spain that, therefore, has banned the removal and sale.
The customs authorities intervened in Calvi, a small Corsican port, after discovering that the framework was to be sold to a buyer in Switzerland. The picture is owned by a famous Spanish banker, Jaime Botin, 79, whose family has a historic relationship with the Santander Group. Botin was not on board the yacht flying the British flag made out to a company which is a shareholder and the proposed sale of the painting would not be made on his behalf. Even in 2012 a request for purchase to bring the painting by Pablo Picasso in London had been blocked by the Spanish authorities.