US EditionRegulators approve disputed $6.2B takeover of Minnesota Power by investment group
The sale includes over $100 million in customer relief and clean energy investments to support Minnesota’s 2040 carbon-free electricity law, regulators said.
- Minnesota regulators unanimously approved an investment group's $6.2B takeover of Minnesota Power, a power company, despite objections from the state attorney general and others.
- The state Department of Commerce negotiated additional safeguards with Minnesota Power and the investors, saying the changes will protect the public interest.
- Opponents warned that the private equity group is only interested in squeezing bigger profits from regular ratepayers.
39 Articles
39 Articles
Post Bulletin
Allete sale approved by Minnesota regulators
ST. PAUL — Minnesota regulators on Friday, Oct. 3, signed off on the final approval needed to sell Allete to a pair of private investment firms. The five-member Minnesota Public Utilities Commission voted unanimously to approve the sale of Minnesota Power’s Duluth-based parent company to Canada Pension Plan Investment Board and BlackRock-owned Global Infrastructure Partners. The $6.2 billion deal, announced in May 2024, drew concern over private…
Associated Press News
Regulators approve disputed $6.2B takeover of Minnesota Power by investment group
Minnesota regulators have approved the takeover of Minnesota Power by an investment group, despite opposition from the state attorney general and consumer advocates.
State regulators approve sale of Allete
ST. PAUL — Minnesota regulators signed off on the final approval needed to sell Allete to a pair of private investment firms. The five-member Minnesota Public Utilities Commission on Friday voted unanimously to approve the sale of Minnesota Power’s Duluth-based parent company to Canada Pension Plan Investment Board and BlackRock-owned Global Infrastructure Partners. The proposed $6.2 billion deal, announced in May 2024, drew concern over private…
State regulators approve sale of northern MN public utility to private investors
Minnesota utility regulators unanimously approved the controversial sale of Duluth-based Minnesota Power to a pair of private investment firms, one of which is owned by BlackRock, the world’s largest asset holder.
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