Two investment funds managed by the American DME declared on Wednesday that they had passed the 3% threshold in Solvay, and now hold more than 3.1% of the chemical group's capital.

According to a financial notice sent by Solvay, DME Advisors and DME Capital passed the 3% mark last month, then strengthened their positions in February to post a 3.12% stake today.

DME Advisors and DME Capital Management, two Delaware-based funds, are controlled by David Einhorn, a well-known hedge fund manager and founder of Greenlight Capital, who made a name for himself by taking short positions on Lehman Brothers before its resounding bankruptcy in 2008.

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