HESM - Hess Midstream signs $100M sponsor unit repurchase

2023-06-27 10:23:28 ET

• Hess Midstream LP ( NYSE: HESM ) said Tuesday its unit will repurchase about $100 million of Class B units from certain affiliates.

• Hess Midstream Operations LP has agreed to repurchase 3,350,084 Class B units of Hess Midstream Operations LP.

• The purchase price per Class B unit is $29.85.

• The units will be repurchased from affiliates of Hess Corporation and Global Infrastructure Partners, who are the sponsors of Hess Midstream.

• The repurchased units will be cancelled upon the closing of the transaction.

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