Aster Group plans merger with Central and Cecil

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