REG - Aster Treasury Plc - Aster Group plans merger with Central and Cecil

Nippon Telegraph and TelephoneAnnouncement

24/06/2021 11:35

RNS Number : 7490C
  
Aster Treasury PLC
  
24 June 2021
  
 

EMBARGOED UNTIL 10.30AM THURSDAY, 24 JUNE 2021
 
Aster Treasury Plc
24 June 2021
 
Aster Group plans merger with Central and Cecil Housing Trust
 
Aster Group and London-based housing trust Central and Cecil (C&C) have today announced they are in early talks to merge the two businesses. 
Aster Group, headquartered in Wiltshire, is a not-for-dividend housing association with over 32,000 homes, 1,450 employees and a turnover of £214.6m. It serves customers across the south of England.
C&C, headquartered in London, specialises in providing affordable housing and care for over 55s living in London. It has 1,840 homes, just under 300 employees.
The partnership would increase Aster's net assets from £888m to just under £1bn. 
Both Boards will receive a final business case in the autumn. A further announcement will then be made.
ENDS
For more information contact:
Chris Benn, Group Finance Director - chris.benn@aster.co.uk 
Lynsey Thorp, Head of Communications - lynsey.thorp@aster.co.uk 
 

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