Hess Midstream Partners LP Announces Acquisition of Hess Infrastructure Partners LP, IDR Simplification and Conversion to an Up-C Corporate Structure; Provides 2020 Guidance
Hess Midstream LP Class A Representing Limited Partner Interests (HESM)
Last hess midstream lp class a representing limited partner interests earnings: 1/29 08:00 am
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Source: Business Wire
Highlights of Proposed TransactionHess Midstream Partners LP (“HESM”) will acquire all of Hess Corporation’s and Global Infrastructure Partners’ ownership interests in Hess Infrastructure Partners LP (“HIP”), including HIP’s 80% interest in HESM’s oil and gas midstream assets, HIP’s water services business and outstanding economic general partner interest and incentive distribution rights (“IDRs”) in HESM.HESM’s organizational structure will be converted into an “Up-C” structure in which IDR payments to sponsors are eliminated. In what is expected to be a non-taxable transaction, public unitholders will receive newly issued securities in a new public entity to be named “Hess Midstream LP” (“Hess Midstream”) that will be taxed as a corporation for U.S. federal income tax purposes, and HESM will continue as a controlled subsidiary of Hess Midstream.HESM’s existing public unitholders’ current ownership of approximately 17 million units of HESM will be converted into the same number of
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HESM
News
- Hess Midstream LP to Participate in Investor ConferencesBusiness Wire
- Investing in Hess Midstream (NYSE:HESM) five years ago would have delivered you a 145% gain [Yahoo! Finance]Yahoo! Finance
- Hess Midstream LP Publishes Sustainability ReportBusiness Wire
- Hess Midstream LP to Participate in Wells Fargo Annual Midstream, Energy & Utilities Symposium [Yahoo! Finance]Yahoo! Finance
- Hess Midstream LP to Participate in Wells Fargo Annual Midstream, Energy & Utilities SymposiumBusiness Wire
HESM
Earnings
- 10/30/24 - Beat
HESM
Sec Filings
- 11/12/24 - Form 4
- 11/12/24 - Form 144
- 11/8/24 - Form SC
- HESM's page on the SEC website