NEC Group sale looming

The private equity arm of Lloyds Banking Group is expected to take control of Birmingham's National Exhibition Centre (NEC).

NEC Group sale looming
NEC Group sale looming

The private equity arm of the bank is expected to take control of the NEC this week as the venue’s local authority-owner looks to raise funds for a £1bn equal pay bill, according to Sky News.

Sky News sources have stated that an announcement on the deal, which is rumoured to be worth between £250m and £300m, could be made as soon as Wednesday (14 January).

It is understood that the deal will mean that Lloyds Banking Group will take control of the whole NEC Group, which includes the exhibition halls; the International Convention Centre (ICC); the Barclaycard Arena – formerly known as the National Indoor Arena; the Genting Arena – formerly known as the LG Arena; and The Ticket Factory agency.

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