January 29, 2019 / 9:56 PM / a year ago

UPDATE 1-Mexico president says Corona beer maker has VAT rebate rejected

(Adds response from Modelo)

MEXICO CITY, Jan 29 (Reuters) - Mexican President Andres Manuel Lopez Obrador said on Tuesday the country’s Supreme Court had rejected a bid by the makers of Corona beer for a value-added tax rebate worth billions of pesos.

“There was going to be a refund of billions of pesos to the company Corona, to the brewer Corona,” Lopez Obrador told his regular morning news conference. “The Supreme Court decided that the request was inadmissible,” he added.

Corona is made in Mexico by brewer Modelo, a unit of Anheuser Busch Inbev NV, a Belgium-based company. In the United States, production of the beer is licensed to Constellation Brands Inc. Lopez Obrador did not give further details.

Modelo said in a statement later in the day that Lopez Obrador’s comments referred to processes led by some former shareholders, and not any legal action taken by the company. (Reporting by Dave Graham and Daina Beth Solomon Editing by Daniel Flynn and Sandra Maler)

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