April 18 (Reuters) - Australian takeover target GrainCorp Ltd (GNC) on Thursday reported a A$40 million ($28.70 million) hit to half-year core earnings of its grains business, as international trade tensions coupled with an ongoing drought wilted its summer crop.
Earlier this month, GrainCorp had announced plans to separate into two, spinning off and listing its global malting unit and restructuring its grain business, whose earnings have been hit by drought.
Australia's biggest listed bulk grain handler said then it was still engaging with suitors vying for parts or all of the company. ($1 = 1.3939 Australian dollars)
News: GNC Australia's GrainCorp flags $29 mln hit to grains arm's HY earnings
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