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CORRECTED-IAC to spin off stake in Tinder-owner Match Group

(Corrects paragraph 2 to say IAC will receive $3/shr in cash, not IAC shareholders)

Dec 19 (Reuters) - IAC/InterActiveCorp is offloading its entire stake in Tinder owner Match Group as the Barry Diller-led internet company separates itself from the business it once owned.

Match Group shareholders will receive one share of New Match and $3 per share in consideration, while IAC will receive $3 per share in cash. (Reporting by Munsif Vengattil in Bengaluru Editing by Saumyadeb Chakrabarty)

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