According to Fox Business, the money will go toward settling "potential criminal charges," and means the company will not face a criminal trial brought by Italy. It does not stop private lawsuits filed by passengers and crew.
Prosecutors still plan to seek criminal charges against several individuals, including the ship's captain and a first officer.
Concordia struck a rock off the coast of the small Italian island January 13 and consequently capsized, killing 32 people.
Cruise Critic has e-mailed Costa for comment.
--by Dori Saltzman, News Editor