Canada Pension Plan Investment Board and Global Infrastructure Partners to acquire ALLETE for $6.2bn.

Canada Pension Plan Investment Board and Global Infrastructure Partners, private equity firms, agreed to acquire ALLETE, an energy company, for $6.2bn. “Our ‘Sustainability-in-Action' strategy has secured ALLETE’s place as a clean-energy leader. Through this transaction with CPP Investments and GIP, we will have access to the capital we need while keeping our customers, communities and co-workers at the forefront of all that we do, with continuity of our day-to-day operations, strategy and shared purpose and values. CPP Investments and GIP have a successful track record of long-term partnerships with infrastructure businesses, and they recognize the important role our ALLETE companies serve in our communities as well as our nation’s energy future. Together, we will continue to invest in the clean-energy transition and build on our 100 plus-year history of providing safe, reliable, affordable energy to our customers," Bethany Owen, ALLETE Chair, President, and CEO.