Joint legal advisers for merger of North West housing associations

Members of our housing corporate and governance team acted as joint legal advisers to a large North West housing association and a smaller housing association on their merger.

As part of our instructions, we were also appointed to carry out legal due diligence on the smaller registered provider (RP).

We advised on the different merger options and provided recommendations on the potential rationalisation of two commercial subsidiaries within the new group structure. This included guidance on the new group parent’s duties and responsibilities as the parent of another housing association and on the material issues arising from the due diligence process.

Our lawyers liaised closely with six different lenders and their solicitors to obtain their consents and subsequently prepared the new constitutional documents for the housing association subsidiary.

We also drafted new governance documentation to codify the relationship between the two RPs and provided post-merger governance advice.

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Penningtons Manches Cooper LLP

Penningtons Manches Cooper LLP is a limited liability partnership registered in England and Wales with registered number OC311575 and is authorised and regulated by the Solicitors Regulation Authority under number 419867.

Penningtons Manches Cooper LLP