Feb 25 (Reuters) - SunEdison Inc SUNE.N said it has
defeated an injunction filed by David Tepper's Appaloosa
Management on its TerraForm deal.
The company on Thursday said it was "gratified" after the
Court of Chancery in Delaware denied Appaloosa's injunction to
prevent SunEdison's yield co, TerraForm Power Inc TERP.O , from
buying some of Vivint Solar Inc's VSLR.N assets.
TerraForm is to acquire Vivint's residential solar rooftop
portfolio for $799 million after SunEdison completes the Vivint
transaction.
Appaloosa has repeatedly said TerraForm's acquisition of
Vivint's assets, which had an initial purchase price of $922
million, was not in the interest of the yield co's shareholders,
mainly because it would alter the company's business model and
force it to take on debt of $960 million.