Thursday, 6 March 2014

Birmingham Council to seek offers for the NEC Group

Birmingham City Council will seek offers for the NEC Group following a strategic review. In a statement, the council said “bringing the NEC Group under private ownership will enable the business to take full advantage of its growth opportunities and reach the next stage of its development.” The city council will invite potentially interested buyers to participate in a pre-qualification process while sale preparations are finalised. In structuring a transaction, the council wants to ensure that the existing uses of the exhibition centre, International Convention Centre and two arenas – LG Arena and National Indoor Arena – are preserved. The NIA is currently undergoing a revamp. The sale will also include the Ticketing Factory. The Council needs to raise funds to meet liabilities for underpaying women employees.

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