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 said.

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

The repurchase deal is expected to be completed on Wednesday.

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