Pays VW billion penalty in the United States?

Wolfsburg, 11 January 2016

There are news in connection with the VW diesel affair in the United States. The German manufacturer is in advanced talks with the US Department of Justice, as well as the American customs authorities. Also, Volkswagen AG confirmed a scheduled payment of fine now worth billions of dollars.

$ 4.3 billion

Goal of the talks with the authorities is to achieve a conclusion of settlements for the resolution of criminal investigations and civil penalty procedures. VW have negotiated so a comparison, which includes fines and penalties in the amount of US$ 4.3 billion so approximately 4.1 billion euros, as well as stricter control systems and ordering an independent Invigilator for the next three years.

What happens next?

Whether it actually comes to intended comparison, is still open. First Board of Directors, supervisory board and other corporate bodies must approve. Moreover, are still an exact copy of the competent U.S. authorities, as well as the approvals of the relevant US courts.

The financial impact

Would there eventually be planned comparison, the payment obligations could lead to a financial burden which exceeds the existing provisions by VW. How high will be the burden on the result for the year 2016, according to VW at the present time still not setting succeeds. Porsche SE holding, once for the purchase of VW founded comparison is likely suffering from the. The company holds about 31 percent of Volkswagen AG. Therefore, it is not excluded that by comparing the predicted result corridor for the year 2016 will fall below. (mf)

by Cassie Hartley

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