Minnesota Regulators Approve ALLETE Acquisition by CPP Investments and Global Infrastructure Partners; Deal Expected to Close in Late 2025

Reuters10-04

Minnesota Regulators Approve ALLETE Acquisition by CPP Investments and Global Infrastructure Partners; Deal Expected to Close in Late 2025

ALLETE, Inc. has received all necessary regulatory approvals for its acquisition by Canada Pension Plan Investment Board (CPP Investments) and Global Infrastructure Partners (GIP), with the transaction expected to close in late 2025. The partnership is set to deliver approximately $200 million in benefits for Minnesota Power customers and supports significant infrastructure demands associated with the clean-energy transition. ALLETE has committed to retaining its current workforce, honoring union contracts, and maintaining compensation and benefits for employees. Following the closing, ALLETE's shares will no longer trade on the New York Stock Exchange, but Minnesota Power and Superior Water, Light and Power will continue operating as fully regulated public utilities.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Allete Inc. published the original content used to generate this news brief via Business Wire (Ref. ID: 20251003972441) on October 03, 2025, and is solely responsible for the information contained therein.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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The partnership is set to deliver approximately $200 million in benefits for Minnesota Power customers and supports significant infrastructure demands associated with the clean-energy transition. ALLETE has committed to retaining its current workforce, honoring union contracts, and maintaining compensation and benefits for employees. Following the closing, ALLETE's shares will no longer trade on the New York Stock Exchange, but Minnesota Power and Superior Water, Light and Power will continue operating as fully regulated public utilities.\n      \n\nDisclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Allete Inc. published the original content used to generate this news brief via Business Wire (Ref. 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