Great Places and MSV have ended merger discussions

Great Places Housing Group Limited

15 September 2023

 

 

Great Places Housing Group Limited (the Issuer)

£345,000,000 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.

 

END