Flagship, Futures and bpha end partnership talks

RNS

Flagship, Futures and bpha end partnership talks

After six months of detailed discussions, Flagship, Futures and bpha have ended their talks to try and form a new 60,000 home association.

Since announcing talks in April, the economic environment has changed in an unprecedented manner, undermining the potential to achieve the goals the partners had set themselves.

Chairs of the respective organisations said: "As three individually strong organisations we set ourselves some ambitious goals for a potential new organisation. Given the change in economic circumstances over the last six months, achieving these aims is no longer feasible and therefore we have agreed to end the talks. Each of the organisations is well placed to continue to serve their customers effectively and now look forward to supporting each other in the normal course of business."

Flagship has over 32,000 homes, is rated G1, V1 by the RSH and has an A2 Moody's credit rating.

For more information, please contact:

David Armstrong Chief Financial Officer, Flagship Group on 0845 258 6117 / 07876501548

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Issuing entity: Flagship Finance plc