Fiat To Raise Chrysler Stake By 16% In $1.3B Deal

Law360, New York (April 21, 2011, 5:26 PM EDT) -- Fiat SpA announced Thursday that it would be increasing its ownership stake of Chrysler Group LLC by 16 percent in a $1.27 billion transaction once the Michigan-based car company finishes paying off its U.S. and Canadian government loans.

The Italian carmaker says it will exercise its incremental equity call option in the second quarter of fiscal year 2011, increasing its ownership to 46 percent and moving it one step closer to a majority stake in Chrysler.

"This is a fundamental step toward completion of the momentous...
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