LDC, the investment arm of Lloyds Bank, is reported to be the favourite to buy the NEC Group, which comprises three flagship schemes in Birmingham.
According to Sky News, the private equity firm is poised to sign and subsequently announce a deal within the next few days. It is not yet known if the agreement is for the whole business of if current owner Birmingham city council will retain a stake.
The NEC Group is estimated to be worth £250m to £300m and includes the National Exhibition Centre (pictured) and sister arenas the LG Arena, the National Indoor Arena and the International Convention Centre, as well as a ticketing operation and catering business.
News first broke about a sale in January 2014 following a strategic review of the business, which was confirmed by the council in March last year.
The sale was prompted by a £1bn equal pay settlement involving hundreds of former female NEC staff.
