Hess Midstream LP Announces Execution Of A Definitive Agreement Providing For The Repurchase Of ~$100M Of Class B Units By Its Subsidiary, Hess Midstream Operations LP, From Affiliates Of Hess Corporation And Global Infrastructure Partners

Author: Benzinga Newsdesk | June 25, 2024 08:08am

Hess Midstream LP (NYSE:HESM) ("Hess Midstream") today announced the execution of a definitive agreement providing for the repurchase of approximately $100 million of Class B units by its subsidiary, Hess Midstream Operations LP, from affiliates of Hess Corporation and Global Infrastructure Partners, Hess Midstream's sponsors (the "Sponsors"). The terms of the proposed unit repurchase transaction were unanimously approved by the Board of Directors of Hess Midstream's general partner, based on the unanimous approval and recommendation of its conflicts committee composed solely of independent directors.

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