Australia's Graincorp says to buy United Malt

SYDNEY Oct 6 (Reuters) - Australian grain handling and marketing firm GrainCorp Ltd (GNC.AX) is buying United Malt Holdings, the world's fourth-largest commercial malt-maker, for $655 million, the Australian firm said on Tuesday.

The acquisition, to be partly funded by an issue of new GrainCorp shares at A$5.65 each, will transform GrainCorp into an international agribusiness with operations in Australia, the United States, Canada and the United Kingdom, it added. (Reporting by Mark Bendeich; Editing by Jonathan Standing)