Flagship Group in early partnership talks

RNS

6 April 2022

Flagship Group announces early talks with bpha and Futures Housing Group

Flagship Group announced today that it is in early talks with bpha and Futures Housing Group to enter into a partnership.

The three organisations collectively manage over 60,000 homes in central and east England and are exploring the potential of combining their expertise and capability to enhance the provision of housing and local services in the area.

In a joint statement, Chairs Peter Hawes (Flagship), Paul Leinster (bpha) and Mike Stevenson (Futures) said:

"In these early stages of talks it is clear we have much in common, including geographic synergy, shared priorities to enhance customer service and the provision of more homes. All three organisations have strong credit ratings - Flagship (A2, Moody's), bpha (A+, S&P), and Futures (A+, S&P), which provides a firm financial foundation for a partnership.

"We are discussing how a combined, larger organisation could make a difference for more people. It is encouraging that our ethos and values align, and that we share a commitment to the importance of local delivery."

The organisations will continue to share updates as exploratory talks continue. Any agreement would be subject to approval by each housing association's Board.

For further information, please contact David Armstrong, Chief Financial Officer, Flagship Group on 0845 258 6117 / 07876501548

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Issuing entity: Flagship Finance plc