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Fiat to Raise Chrysler Stake to 61.8% in Push Toward Merger

Fiat SpA will boost its Chrysler Group LLC stake to 61.8 percent, taking a step closer to a full merger with the American carmaker.

Italy’s biggest manufacturer will exercise an option in the coming weeks to buy an additional 3.3 percent from the United Auto Workers’ retiree health-care trust, or VEBA, the Turin, Italy based carmaker said in a statement.