Great Places Housing Group Limited Great Places and MSV have ended merger discussions (6172M)

TIDM15HG

RNS Number : 6172M

Great Places Housing Group Limited

15 September 2023

Great Places Housing Group Limited (the Issuer)

GBP345,000,000 4.75 per cent Secured Bonds due October 2042

(ISIN number XS0842152281)

GREAT PLACES AND MSV HAVE ENDED MERGER DISCUSSIONS

Date 15(th) September 2023

Great Places Housing Group Limited and MSV Housing Group Limited have regretfully ended discussions to join together in a merger by Transfer of Engagements.

The operating environment has thrown up many unanticipated challenges since both organisations began talks. Last week, it was announced that it was sensible to take some additional time to review the recommendations made during the due diligence process in more detail. This has caused our Boards to reflect on the business case for merger.

As a result we will continue working collaboratively (on projects like Hive Homes) and as partners within the Greater Manchester Housing Partnership rather than join together as one organisation.

Both Great Places and MSV would like to thank customers, colleagues and stakeholders for their ongoing support. Both organisations are well placed to continue to serve our customers and communities, invest in existing and new homes and we will continue to work together as long-standing partners as we look to the future.

Matt Harrison will remain as Chief Executive of Great Places.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

UPDLAMPTMTABMRJ

(END) Dow Jones Newswires

September 15, 2023 05:00 ET (09:00 GMT)

Great Places 42 (LSE:15HG)
Historical Stock Chart
From Nov 2024 to Dec 2024