The Cabildo de Tenerife sells its shares in Bodegas Insulares

The Plenary of the Cabildo Insular de Tenerife approved on 31 July 2026 the disposal of all of its shareholding in the mixed company Bodegas Insulares de Tenerife, S.A. (BITSA), representing 45.66% of its share capital. The transaction, valued at EUR 780,515.13, is published in the Official Gazette of the Province of Santa Cruz de Tenerife number 97, of 14 August 2026, through notice 3471 (record 1694281, page 23024).

BITSA is a mixed-economy company incorporated on 7 August 1992 by the Cabildo together with winegrowers from the region and several municipal councils on the island, for the purpose of producing wine from grapes covered by the Tacoronte-Acentejo Denomination of Origin. The activity, initiated by a plenary agreement of 12 February 1990 through the leasing of the facilities of the Bodega Insular de Tacoronte, was formalised in an administrative contract signed on 8 March 1994. The Cabildo held 2,015 class A shares, with a nominal value of EUR 120.20242 each, which made it a minority shareholder.

The exit is carried out through the redemption of all class A shares, with repayment of the contributions at EUR 267.15 per share, charged to the share premium and voluntary reserves, totalling EUR 780,515.13. BITSA already paid this amount into the Corporation’s account on 20 April 2026, and the capital reduction deed was notarised on 23 April and registered in the Mercantile Registry of Tenerife on 29 May 2026, so legally the Cabildo no longer owns any shareholding.

An exit linked to the cessation of a historic activity

The file began on 29 December 2023, when the Insular Government Council agreed not to extend BITSA’s use of the Bodega Insular de Tacoronte and granted nine months of continuity for the activity. Following the technical and legal reports, the Plenary agreed on 27 June 2025 to cease the economic activity of producing, bottling and selling wine from the region, considering that the public need that justified it had lapsed. The report of the Technical Service for Agri-Food Quality and Valorisation (8 May 2025) maintains that the sector is consolidated:

• Vineyard holdings registered under the D.O. Tacoronte-Acentejo rose from 167 in 1989 to 1,138 today.
• Wineries increased from 10 to 31, a 300% rise.
• Bottled wine with a guarantee of origin is now the majority compared with bulk wine.

Exchange of plots and strengthening of the Natural Environment

In parallel, the Extraordinary General Meeting of BITSA, held on 2 December 2025, authorised the exchange of registered properties 20,954 in Icod de los Vinos and 10,000 in Guía de Isora, owned by the winery, for property 24,843 in Tacoronte, owned by the Cabildo. BITSA’s properties were valued at 2,820,000 euros, compared with the 1,696,873.18 euros of the Tacoronte property, so the Corporation paid the difference of 1,123,126.82 euros.

The regional wineries of Icod de los Vinos and Guía de Isora, appraised by TINSA at 1,572,586.23 and 1,288,140.72 euros (plus 42,225 euros for adjoining land), will be assigned to the Department of Natural Environment, Sustainability, Security and Emergencies as a workplace for the UOGT West Forest Management unit, a possible helitransported firefighting base and an interpretation centre for natural areas. The Tacoronte Winery, in contrast, was awarded under lease to BITSA in July 2024 with an annual fee of 94,021.11 euros.

The Plenary vote

The proposal, promoted by the Department of Industry, Trade, Primary Sector and Animal Welfare, was ruled favourably in the Plenary Commission of 24 July 2026 with 4 votes in favour and 4 abstentions, with no amendments submitted by the spokespersons during the public exhibition of the file (17 to 22 July). In the Plenary of 31 July, the agreement was approved by 17 votes in favour (9 from Coalición Canaria, 6 from the Partido Popular and 2 from the Grupo Mixto) and 11 abstentions (8 from the Grupo Socialista and 3 absent councillors: Juan José Martínez Díaz, Valentín Esteban González Évora and Francisco Javier Parrilla Gómez). The notice, signed on 7 August 2026 by the councillor with delegated authority for Primary Sector and Animal Welfare, Valentín Esteban González Évora, orders its publication in the BOP.

With this property transaction, the Cabildo Insular de Tenerife completes the withdrawal from an economic activity it supported for more than three decades and transfers the leading role in the wine sector to private initiative, once the productive fabric of the region has been consolidated. The local councils of the area and the winegrowers of the D.O. Tacoronte-Acentejo, holders of class B shares, remain as partners of BITSA, while the Corporation incorporates into its assets the properties that will reinforce the island’s forest management and natural environment services.

Source: Official Bulletin of the Province of Santa Cruz de Tenerife, No. 97, Friday, 14 August 2026, Local Administration section, p. 23024 (official reference: notice 3471, record 1694281).