Tenerife Cabildo puts shares in publicly-owned Buenavista Golf up for sale

[Janet]

The sale of the family silver shows the desperate state of Tenerife's finances as the Cabildo puts shares in the publicly-owned Buenavista golf course up for sale for just over €18.3 million euros. Minister of Presidency and Finance, Victor Perez, said that the decision was "the most appropriate and cost effective for the interests of the Cabildo". Sr Perez explained that the decision formed part of the plan for the restructuring and rationalization of the public sector to make it smaller and more efficient in a climate of austerity and control of public spending.

The beautiful Buenavista del Norte golf course is in north west Tenerife, and was designed by Severiano Ballesteros. It has received several awards and distinctions including the Madera Verde Prize for Environmental Responsibility awarded by the Royal Spanish Golf Federation, while specialist magazine Golf Journal called it the second best course in Europe in 2011. JA