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Accent and PA Housing end merger discussions

News24 May 2021Sarah Williams

Potential merger talks between PA Housing and Accent that would have created a 44,000-home group have ended just two months after they began.

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Accent and PA housing end merger discussions #UKhousing #SocialHousingFinance
Potential merger talks between PA Housing and Accent that would have created a 44,000-home group have ended just two months after they began, the housing associations have announced #UKhousing #SocialHousingFinance

Accent Group owns or manages around 20,700 homes in the North, the Midlands and the South East, while PA Housing has around 23,200 homes in London, Surrey and the Midlands.

 

The two groups had revealed in March that early discussions were under way regarding the potential to create a new “values-driven housing provider”.

 

However, in statements published to their websites on Friday, the pair said that these had now come to an end.

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Paul Dolan, chief executive of Accent Group, said that following respective board meetings for the two providers earlier in the week, it had been decided not to progress the talks and that “discussions have ended”.

 

He added: “Our focus does not change because these discussions have ended. We remain committed to delivering high-quality homes and services to our customers and communities.

 

“We will continue to focus on driving our new and ambitious corporate strategy, and will harness positive and progressive partnerships where they enhance Accent’s already resilient business so we can continue to do more for our customers.”

 

Dilip Kavi, chief executive of PA Housing, said: “We will continue to focus on the delivery of our corporate plan objectives and everything we want to achieve to create even better homes and services for our customers. Our business is very resilient and we remain determined to lead the sector with our approach, and deliver even more for the communities we serve.”

The news comes after discussions that would have created the UK’s largest housing association were dropped at the end of April.

 

Sanctuary, which manages more than 100,000 homes nationally, and Southern, which has around 30,000 homes in the South East, had announced in February that they had entered into dialogue “in respect of a potential business combination”.

 

However on 30 April the two groups told the markets that they had “mutually agreed to not pursue the potential business combination”.

DealsEast MidlandsHousing Association/RPLondonMergers and AcquisitionsSouth EastWest Midlands
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