Harbinger sells 3.7 million shares of Solutia, cutting stake to 28%

By Lisa Kerner

Charlotte, N.C., April 24 - A group of Solutia Inc. investors led by Harbinger Capital Partners Master Fund I, Ltd. sold 3,705,500 shares of the company's stock on April 22 and April 23 priced from $2.76 to $3.00.

The transactions were reported in a schedule 13D/A filed with the Securities and Exchange Commission on Friday.

Harbinger beneficially owns 26,473,520 shares or 28% of the St. Louis-based company's outstanding stock.

Solutia is a St. Louis-based manufacturer and provider of performance films, specialty chemicals and nylon products.

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