Fiat cars are displayed at a retailer in Milan, Italy, Thursday, April 21, 2011. Italian automaker Fiat announced Thursday it has reached a deal to buy another 16 percent stake in Chrysler LLC for ... more 
Fiat cars are displayed at a retailer in Milan, Italy, Thursday, April 21, 2011. Italian automaker Fiat announced Thursday it has reached a deal to buy another 16 percent stake in Chrysler LLC for $1.27 billion, raising its ownership to 46 percent and bringing it a step further to fully integrating the U.S. automaker. Fiat SpA will exercise an equity call option once Chrysler has repaid loans to the U.S. and Canadian governments. Fiat said that would happen in the second quarter of 2011. Sergio Marchionne, CEO for both Fiat and Chrysler, said the move was "a fundamental step toward completion of the momentous integration of Fiat and Chrysler, initiated less than two years ago, that will result in the creation of a global automaker." less 
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Associated Press | Photo By Luca Bruno
Thu, Apr 21, 2011 11:06 AM EDT