Browning West Issues Statement of Support for Merger of Countryside Partnerships plc and Vistry Group plc

Rhea-AI Summary

Browning West LP, owning 15.3% of Countryside Partnerships, endorses the merger with Vistry Group. This strategic alliance aims to enhance shareholder value and tackle the UK's affordable housing crisis. Usman Nabi, Chief Investment Officer of Browning West, emphasizes the potential for high returns and growth by leveraging strong leadership and operational synergies. The merger is seen as a pathway for substantial scale, with the possibility of splitting divisions later, fostering effective resource allocation.

Positive

• Browning West supports the merger, indicating strong shareholder backing.
• The merger aims to address the UK's housing shortage, enhancing the company's strategic position.
• Significant potential for operating synergies between the two companies.
• Leadership of Greg Fitzgerald noted for successful integration and operational performance.

Negative

• None.

Believes the Transformational Merger Will Unlock Significant Long-Term Value for Shareholders

LONDON--(BUSINESS WIRE)-- Browning West, LP ("Browning West" or “we”), which beneficially owns approximately 15.3% of the outstanding shares of Countryside Partnerships plc ("Countryside" or the “Company”), today issued the following statement in support of the recently announced business combination between Countryside and Vistry Group plc ("Vistry").

Usman Nabi, Founder and Chief Investment Officer of Browning West, said:

“We strongly support the merger between Countryside and Vistry, which we believe will unlock significant long-term value for Countryside’s shareholders. We believe this transformational combination will not only establish an outstanding Partnerships business, with high return-on-capital, high growth prospects and strong executive leadership, but it will also position the business to more effectively address the UK’s acute affordable housing shortage. Following the merger, both the Partnerships and Housebuilding segments will have substantial scale and resources, which creates the option to separate each division in the future.”

Nabi continued:

“Greg Fitzgerald has one of the best track records of operating performance and value creation in the UK housebuilding sector, and we have great confidence in his ability to successfully integrate Countryside and lead the combined company as it continues to grow. Greg and his team are well qualified to capture the latent potential in Countryside’s business and to generate significant operating synergies between the two companies. We are excited to remain shareholders going forward.”

About Browning West, LP

Browning West is an independent investment partnership based in Los Angeles, California. The partnership employs a concentrated, long-term and fundamental approach to investing and focuses primarily on investments in North America and Western Europe.

Browning West seeks to identify and invest in a limited number of high-quality businesses and to hold these investments for multiple years. Backed by a select group of leading foundations, family offices, and university endowments, Browning West's unique capital base allows it to focus on long-term value creation at its portfolio companies.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220906005945/en/

For Investors:

info@browningwest.com

310-984-7600

For Media:

Longacre Square Partners

Charlotte Kiaie / Kate Sylvester, 646-386-0091

browningwest@longacresquare.com

Source: Browning West, LP

FAQ

What is the significance of the merger between CUSPY and BVHMY?

The merger is expected to create substantial long-term value for shareholders and address the UK’s affordable housing crisis.

How will the merger affect shareholders of CUSPY?

The merger is likely to enhance shareholder value through increased scale and potential operational synergies.

When was the merger between CUSPY and BVHMY announced?

The merger was recently announced, with details provided by Browning West LP.

What are the anticipated benefits of the merger for the UK housing market?

The merger aims to improve the ability to address the UK's acute affordable housing shortage effectively.