 "fiat, car")
PSA Group and Fiat Chrysler Automobiles NV agreed to combine in a deal that will create the world’s fourth-biggest auto manufacturer.
The French and Italo-American carmakers signed a binding accord for a 50-50 merger of their businesses, they said Wednesday. The combined company will be led by PSA Chief Executive Officer Carlos Tavares, with Fiat Chairman John Elkann holding the same role at the enlarged firm.
The merger would forge a regional powerhouse to rival Germany’s Volkswagen AG and have a stock-market value of about $47 billion, surpassing Ford Motor Co. The tie-up also brings together two carmaking dynasties --
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