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.