Aster Treasury PLC Aster Group plans merger with Central and Cecil (7490C)

TIDM42RJ

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 GBP214.6m. 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 GBP888m to just under GBP1bn.

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 - [e-mail]

Lynsey Thorp, Head of Communications - [e-mail]

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 [e-mail] 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

STRZLLFLFQLXBBX

(END) Dow Jones Newswires

June 24, 2021 05:30 ET (09:30 GMT)