Mexico's Grupo Salinas to pay nearly $2 billion to end two decades of tax disputes

• ​Grupo Salinas said it disagreed with the ⁠tax assessment but is settling to "turn the page" and ⁠focus on business operations. • The company said it has paid more than ⁠300 billion pesos in taxes over the past 20 ⁠years ‌and employs more than 200,000 people across Mexico.

Mexican conglomerate Grupo Salinas will pay ‌32 billion pesos ($1.86 billion) to conclude 20 years of tax disputes ⁠with the Mexican government, the company said in a statement on Thursday. KEY CONTEXT •The settlement concludes ​a lengthy dispute between the Mexican Tax ‍Authority and Salinas, one of Mexico's wealthiest tycoons, whose business empire includes broadcaster TV Azteca and retailer Grupo ⁠Elektra.

• ‌President ⁠Claudia Sheinbaum's government had threatened to seize assets and ‍revoke broadcast licenses if Salinas did not pay. • ​Grupo Salinas said it disagreed with the ⁠tax assessment but is settling to "turn the page" and ⁠focus on business operations.

• The company said it has paid more than ⁠300 billion pesos in taxes over the past 20 ⁠years ‌and employs more than 200,000 people across Mexico. ($1 = 17.2150 Mexican pesos)