VW says has negotiated $4.3 bln U.S. criminal settlement

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By Andreas Cremer

<span class="articleLocation”>Volkswagen has negotiated a concrete
draft of a criminal and civil settlement worth $4.3 billion with
the U.S. Justice Department and said the impact of the accord on
its 2016 financial results cannot yet be defined.

Volkswagen (VW) said final conclusion of the settlement is
still subject to approval by the carmaker’s management and
supervisory boards, adding the two bodies will address the
matter still late on Tuesday or on Wednesday.

The settlement includes a guilty plea by the German company
regarding certain U.S. criminal law provisions and a statement
of facts on the basis of which the fines have to be made, VW
said.

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