Latham & Watkins Advises Sponsors in Connection With Hess Midstream LP’s US$100 Million Sponsor Unit Repurchase

Hess Midstream LP (NYSE: HESM) (Hess Midstream) has announced the execution of a definitive agreement providing for the repurchase of approximately US$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.

Latham & Watkins LLP advised the Sponsors in the transaction with a corporate deal team led by Houston partner Thomas Brandt and Houston/Austin partner Bill Finnegan, with associates Denny Lee, Anthony Tan, Anji Yuan, and Morgen Seim. Advice was also provided on tax matters by Houston partner Bryant Lee.