Joint statement from Genesis and TVHA regarding merger

The Boards of Genesis and Thames Valley Housing have mutually agreed that we will not be going ahead with our planned merger, due to differences in style and approach. These have become more apparent as the merger progressed. We entered into this merger process in a positive spirit – and that is one that has continued throughout, despite this disappointing outcome.

 

Neil Hadden said: “The Genesis priority is driving up service delivery for our customers and the development and delivery of new homes. We have an ambitious agenda on both fronts. We intend to leverage our capacity as a large, G15 housing association to get new homes onto the market across different tenures as quickly as we can. That is an important way of tackling the housing crisis – and we want to play our part in doing so. It is obviously disappointing that we were not able to complete the merger, but we are now very much looking forward to delivering on our corporate strategy and looking at other possible opportunities in the near future.”

 

Geeta Nanda added: “TVH and Genesis have much in common and share many similar goals. The digital agenda and ensuring the delivery of first class customer service are really important for us both, and TVH will continue to push the envelope on this as we have been for the last few years. We have the capacity to continue to provide housing across all tenures and deliver new homes through this housing crisis as creatively as possible. Ultimately we feel we will be better able to serve our residents and communities as two separate entities.”

 

We both wish each other well on our respective journeys. It is obviously disappointing that we were not able to complete the merger, but we are now very much looking forward to delivering on our corporate strategies.

 

-Ends-

Editors notes

Genesis Housing Association and Thames Valley Housing will not be making further comment at this time.

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