M&A - Hess Midstream LP

Form Type: 8-K

Filing Date: 2025-01-15

Corporate Action: Acquisition

Type: New

Accession Number: 000119312525007128

Filing Summary: On January 13, 2025, Hess Midstream LP and its subsidiary, Hess Midstream Operations LP, entered into a Unit Repurchase Agreement to repurchase a total of 2,572,677 Class B units representing limited partner interests in HESM OpCo for approximately $100 million, funded through borrowings. The agreement was approved unanimously by the Board and the Conflicts Committee, with customary representations from the Sponsors. Following the transaction, the repurchased units were cancelled, and it resulted in HINDL and GIP retaining significant ownership of Class A and Class B shares, representing substantial voting and economic interest in the Company. A press release was issued on January 14, 2025, announcing this transaction.