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.
Showing posts with label NEC. Show all posts
Showing posts with label NEC. Show all posts
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.
Tuesday, 7 January 2014
Venue news - NEC set for sale, Olympic stadium upgrades - and music gets racing lift
The Times reports that Birmingham City Council, the majority owner of the NEC Group, is panning to sell the National Exhibition Centre and its sister arenas, either through a flotation or trade sale. Te group comprises four main venues including Birmingham's Symphony Hall and the National Indoor Arena, a ticketing company and a catering business. The Council needs to raise money to replace funding cuts. Gross revenues last year topped £136 million.Building group Balfour Beatty has won a contract worth £154 million to transform the Olympic Stadium in East London into a 'first class sporting and cultural facility for generations'. The Stadium will become West Ham United's permanent home from 2016 and the improvemengts include a new roof.
The Jockey Club, the owner of a number of UK race courses including Aintree, Epsom and Newmarket has teamed up with music industry veteran Andrew Wilkinson and sponsorship veteran Simon Haldern to launch a new 50-50 music venture - Jockey Club Live - to promote live concerts at race curses. The Jockey Club aready promotes 25+ race + music events each year.
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