ALLETE Inc. — regulated utility with renewable, hydro, and transmission assets across Upper Midwest (Minnesota Power)
Take-private of ALLETE at $67/share. Includes Minnesota Power regulated utility, wind, solar, biomass, and hydroelectric assets. $200M in customer benefits committed. Closed December 2024 after FERC and MPUC approvals. GIP is now part of BlackRock.
$6.20B
Deal Value
3,000MW
Capacity
Solar + Storage
Technology
MN, WI
Location
Deal Details
- Deal Type
- Corporate M&A
- Buyer / Financier
- CPP Investments, Global Infrastructure Partners
- Deal Value
- $6.2B
- Stage
- Operating
- ISO/RTO
- MISO
- Source
- ALLETE
Service Providers
Advisory & Legal
- Seller Counsel
- Skadden, Arps, Slate, Meagher & Flom
- Buyer Counsel
- Latham & Watkins
- Seller Financial Advisor
- J.P. Morgan; Houlihan Lokey
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