Business
Hess Midstream LP Announces Signing of Accretive $200 Million Repurchase From Sponsors and the Public
HOUSTON, May 06, 2025--HESS MIDSTREAM LP ANNOUNCES SIGNING OF ACCRETIVE $200 MILLION REPURCHASE FROM SPONSORS AND THE PUBLIC
About this update from Hess Midstream Lp
[{"type":"image","alt":"","displaySize":"","headline":null,"caption":"","credit":null,"className":"","disableSlideshowImg":false,"size":{"original":{"width":793,"height":230,"url":"https://media.zenfs.com/en/business-wire.com/dff78fe5c2b4a80f8358236569618611"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/eGWc1Nps7qN2pUrhwmxyoQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTI3ODtjZj13ZWJw/https://media.zenfs.com/en/business-wire.com/dff78fe5c2b4a80f8358236569618611","width":793,"height":230},"lightbox":{"url":"https://s.yimg.com/ny/api/res/1.2/11hsew3T6I52iE8uIykoPA--/YXBwaWQ9aGlnaGxhbmRlcjt3PTE1ODY7aD00NjA7Y2Y9d2VicA--/https://media.zenfs.com/en/business-wire.com/dff78fe5c2b4a80f8358236569618611","width":793,"height":230}},"lazy":false},{"type":"text","content":"HOUSTON, May 06, 2025--(BUSINESS WIRE)--Hess Midstream LP (NYSE: HESM) ("Hess Midstream"), today announced an accretive $200 million repurchase that included both Class B units by its subsidiary, Hess Midstream Operations LP, from affiliates of Hess Corporation and Global Infrastructure Partners, a part of BlackRock, Hess Midstream’s sponsors (the "Sponsors"), and Hess Midstream’s Class A shares from the public.","length":435,"tagName":"p"},{"type":"text","content":"Hess Midstream announced the execution of a definitive agreement providing for the repurchase of approximately $190 million of Class B units by its subsidiary, Hess Midstream Operations LP, from 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.","length":471,"tagName":"p"},{"type":"text","content":"Hess Midstream also announced that it has entered into an accelerated share repurchase ("ASR") agreement with JPMorgan Chase Bank, National Association ("JPM"), to repurchase $10 million of Hess Midstream’s publicly traded Class A shares.","length":258,"tagName":"p"},{"type":"text","content":""We continue to execute unit repurchase transactions as part of our unique financial strategy, which highlights our differentiated ability to deliver significant shareholder returns while also maintaining balance sheet strength," said Jonathan Stein, Chief Financial Officer of Hess Mid...