C&C and Aster Group confirm merger
C&C and Aster Group have confirmed they are to merge, following unanimous agreement by both boards and C&C shareholders.
The merger, which follows Aster Group’s merger with East Boro Housing Trust (EBHT) in early 2020, will create a combined group, offering around 34,500 homes for the benefit of approximately 100,000 residents. C&C will become a subsidiary company within Aster Group when the merger completes in January 2022.
The partnership, plans for which were first announced in June, will deliver hundreds of new safe and affordable housing solutions for the over-55s across London, adding to C&C’s existing portfolio of approximately 2,000 homes. Planned investment in existing C&C properties will now be accelerated, while C&C’s community activities and volunteering scheme is set to be expanded.
Julia Ashley, chief executive of C&C, said: “This merger presents an exciting new chapter for C&C at a time where we are celebrating our 95th anniversary. Through this new partnership, our residents can benefit through accelerated investment in our existing properties and services including in care, and also building new homes to add to our existing portfolio of affordable housing for over-55s in London.”
Bjorn Howard, Group chief executive of Aster Group, said: “Reaching board and shareholder agreement is an important step forward in our shared vision for C&C to join the Group in January. We have ambitious plans to deliver more housing and an enhanced service offering to our customers and welcoming a new member to the group puts us firmly on the path to achieving those goals.
“There will be a phased integration and, while customers won’t experience any immediate changes, the prospect of what we can achieve together in the long-term is exciting. Building more homes, better services and investing in technology – ultimately this partnership is about bringing together the resources and expertise that we both bring to the table and using them more effectively to improve experience for our colleagues and customers.”
More information about the merger is available on our website.