Merger with Sanctuary will not go ahead
Housing & Care 21 will not be pursuing merger with Sanctuary Housing Group.
After carefully considering the findings of the due diligence process, it was evident that Housing & Care 21 could not be confident that the conditions set for the merger with Sanctuary Housing Association, as specified in the agreed Statement of Commitments, would be fulfilled.
Sanctuary was clear that it did not regard the Statement of Commitments as being legally binding, so Housing & Care 21 sought to gain assurance through the due diligence process that these terms for merger would be honoured. Unfortunately more doubts than assurances arose from this process.
Concerns were raised with Sanctuary, who concluded that the merger would not go ahead.
Housing & Care 21 will not be looking to find an alternative housing organisation to merge with, but will instead re-focus on maintaining the momentum in its own improvement and investment programmes. We remain committed to being the leading provider of housing and care for older people of modest means.