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Latham & Watkins Advises Partnership Led by Canada Pension Plan Investment Board and Global Infrastructure Partners on US$6.2 Billion Acquisition of ALLETE

May 6, 2024
Members of the firm’s M&A and Private Equity Practice additionally represent CPP Investments in partnership arrangements with GIP.

ALLETE, Inc. (NYSE: ALE) and a partnership led by Canada Pension Plan Investment Board (CPP Investments) and Global Infrastructure Partners (GIP), (the partnership), have jointly announced that they have entered into a definitive agreement under which the partnership will acquire ALLETE for US$67.00 per share in cash, or US$6.2 billion including the assumption of debt. ALLETE is a leading energy company and provider of safe, reliable, and competitively priced energy with a national footprint. Upon completion of the acquisition, ALLETE’s shares will no longer trade on the New York Stock Exchange, and ALLETE will become a private company.

Latham & Watkins LLP represents the partnership led by CPP Investments and GIP in connection with the transaction, and additionally advised CPP Investments on the partnership arrangements with GIP. The Latham deal team is led by New York partners David Allinson and David Beller and New York counsel Richard Quay, with associates Saïd Bakir and Eric Czubiak.