April 4 (Reuters) - Australia's GrainCorp Ltd (GNC) on Thursday said it will separate its global malting business into a new company, which will be listed on the Australian stock exchange.
The new company, dubbed MaltCo, will consist of GrainCorp's malting and craft brewing distribution business, the company said in a statement.
If the separation goes through, the company's shareholders will receive MaltCo shares in proportion to their shareholdings in GrainCorp, while also retaining their GrainCorp shares.
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