This is the first step in the catalysis of malonate decarboxylation and involves the exchange of an acetyl thioester residue bound to the activated acyl-carrier protein (ACP) subunit of the malonate decarboxylase complex for a malonyl thioester residue . This enzyme forms the α subunit of the multienzyme complexes biotin-independent malonate decarboxylase (EC 188.8.131.52) and biotin-dependent malonate decarboxylase (EC 184.108.40.206). The enzyme can also use acetyl-CoA as a substrate but more slowly .
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