Allete closes on sale of water company
Wednesday, March 27, 2019
Allete Inc., the Duluth-based parent company of Minnesota Power, has closed on its $270 million sale of a water subsidiary to Tokyo-based Kurita Water Industries. The sale was first announced in February.
Allete bought U.S. Water Services four years ago and grew the company markedly during that time. Allete says proceeds from the sale will largely go toward clean energy initiatives.
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