ALLETE approves acquisition by CPP Investments and Global Infrastructure Partners.

ALLETE has received a written order from the Minnesota Public Utilities Commission (MPUC) approving its acquisition by Canada Pension Plan Investment Board (CPP Investments) and Global Infrastructure Partners (GIP). The acquisition is expected to close on December 15, subject to the satisfaction or waiver of the remaining closing conditions. The deal aligns with ALLETE's strategy to support a stronger, more flexible electric grid and other clean-energy transition efforts.