Blackstone poised to acquire NEC Group

Blackstone is close to agreeing an £800m-plus bid for the Birmingham-based NEC Group, which hosts Crufts.

The deal, which could be signed today, will come only weeks after Blackstone, one of world’s largest property investors, agreed a £1.4bn deal to buy Network Rail’s commercial property portfolio, which included thousands of premises under railway arches across Britain.

More than seven million people visit the NEC’s 750 events a year, including the Crufts dog show. It counts Birmingham’s National Exhibition Centre, the International Convention Centre and the Genting Arena among its assets.

Birmingham city council sold the company three years ago for £307m, according to Sky News.

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