09:55 AM EST, 01/14/2025 (MT Newswires) -- Hess Midstream ( HESM ) said Tuesday that its unit, Hess Midstream Operations, has agreed to repurchase $100 million class B units from affiliates of Hess Corp. ( HES ) and BlackRock ( BLK ) division Global Infrastructure Partners.

Hess Midstream Operations will repurchase nearly 2.6 million class B units for $38.87 each, Hess Midstream ( HESM ) said.

After the deal is completed, Hess Midstream ( HESM ) will be owned by the public 47.9%, Global Infrastructure Partners 14.3%, and Hess Corp. ( HES ) 37.8%, Hess Midstream ( HESM ) said.

The repurchase deal is expected to be completed on Wednesday.

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