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BlackRock lowers stake in SunEdison

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BlackRock lowers stake in SunEdison

BlackRock Inc.significantly reduced its holdings in SunEdisonInc. to just 1,972,465 shares, or 0.6%, of its outstanding commonstock, according to an amended Schedule 13G filed May 10.

Based on S&P Global Market Intelligence data, BlackRockwas the second largest institutional owner of SunEdison as of Dec. 21, 2015.The asset manager previously owned 20,612,502 shares, or 5.21% of the company'soutstanding stock.

SunEdison recently filedfor Chapter 11 restructuring in the Bankruptcy Court for the Southern Districtof New York. The company's yieldcos, TerraFormPower Inc. and TerraFormGlobal Inc. were excluded in the filing.

BlackRock also cut its holdings in TerraForm Power by2,343,913 shares to 2,628,090 shares, or 3.28%, according to an amendedSchedule 13G filed March 10.