NEC Group sale update expected this week

Media reports have suggested that LDC, the private equity arm of Lloyds Banking Group, will take control of Birmingham's National Exhibition Centre Group in a deal thought to be worth up to £300m.

News of NEC Group's sale could be announced this week
News of NEC Group's sale could be announced this week

According to Sky News, an announcement about the deal could be made by tomorrow (14 January), which is for the sale of the NEC Group’s venues including the Barclaycard Arena – previously known as the National Indoor Arena – the NEC, the Genting Arena, formerly known as the LG Arena, and the International Convention Centre.

News of the sale emerged in March 2014 when Birmingham City Council, who currently own the group, said that "private ownership will enable the business to take full advantage of its growth opportunities and reach the next stage of its development."

Other businesses that form part of the NEC Group include national ticketing agency The Ticket Factory, catering business Amadeus and NEC Group International, which is taking its venue management expertise into the operation of third party-owned venues.

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