Bloomberg

(Bloomberg) -- Volkswagen AG confirmed it is in final negotiations toward a settlement with the U.S. Department of Justice over cheating on engine-emissions tests, which would include a $4.3 billion in civil fines and a guilty plea to some criminal charges.

VW’s management and supervisory boards are scheduled to review the settlement today or Wednesday and it may lead to a financial expense that exceeds current provisions, the German automaker said in a statement. Separately, Porsche Automobil Holding SE, which owns 30.8 percent of Volkswagen, said its financial performance will be hurt by the settlement.

To contact the reporter on this story: Kevin Miller in Chicago at kmiller@bloomberg.net. To contact the editors responsible for this story: Kevin Miller at kmiller@bloomberg.net.

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