SunEdison settles with shareholders of Latin America Power
March 4 (Reuters) - Solar company SunEdison Inc said on Friday it settled disputes related to the termination of a deal to buy Latin America Power Holding, which owns wind and hydropower projects in Chile and Peru.
SunEdison and its holding company, SunEdison Holdings Corp, agreed to pay $28.5 million to shareholders of Latin America Power.
The settlement will terminate an arbitration proceeding and a restraining order against SunEdison and its yieldco TerraForm Power Inc.
The solar company said last month that a U.S. court restrained the company and TerraForm Power from making any unusual asset transfers until a hearing in a lawsuit brought on by investors of Latin American Power.
SunEdison terminated a deal to buy Latin American Power in October - five months after agreeing to acquire the company.
The settlement also allows the dismissal of action filed against the three companies in a New York court by shareholders of Latin America Power. (Reporting by Arathy S Nair in Bengaluru; Editing by Saumyadeb Chakrabarty)
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