January 10, 2017 / 7:14 PM / in 9 months

Volkswagen says has negotiated $4.3 billion U.S. criminal settlement

The Volkswagen logo is seen at the company's display during the North American International Auto Show in Detroit, Michigan, U.S., January 10, 2017. REUTERS/Mark Blinch

BERLIN (Reuters) - Volkswagen (VOWG_p.DE) 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.

Reporting by Andreas Cremer

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