Published On: Tue, Aug 11th, 2015

$29 million Pablo Picasso painting Seized on Yacht in Corsica Returns to Spain

The yacht Adix, owned by Spanish Santander banking group and flying a British flag, sails off Testa beach on in Pianottoli Caldarello, Corsica, four days after French customs seized a Picasso on board.

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A $29 million Pablo Picasso painting belonging to Spanish banker Jaime Botin and barrred from leaving Spain will arrive in Madrid on Tuesday after an attempt to export the artwork was blocked by French authorities.

“Head of a Young Woman” will be transported by Spain’s Guardia Civil in a special-purpose aircraft carrying officials from the country’s Ministry of Culture. The painting will be deposited at Madrid’s Museo Reina Sofia under judicial oversight until the case is resolved.

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