David Einhorn cuts SunEdison interest

Billionaire investor David Einhorn has reduced his interest in US renewables developer SunEdison Inc (NYSE:SUNE) to 2.8% from 6.8%, according to a regulatory filing on Monday.

Einhorn sold shares through a number of entities including his US hedge fund Greenlight Capital Inc, which now holds a 1.6% stake in SunEdison compared with a 4% shareholding on January 27. In total, Einhorn held 11.33 million SUNE shares as of April 18, 2016.

Also in late January, SunEdison announced its board had appointed Claire Gogel, a former partner at Greenlight Capital, as an independent director. At the time, the hedge fund said it was evaluating its investment in the debt-laden firm.

According to a Friday report by Reuters, SunEdison may very soon file for bankruptcy protection. The company itself confirmed it was holding debtor-in-possession financing talks.

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