Calling today's announcement "historic", Council leader Sir Albert Bore said the sale was necessary for the venue and events company to grow.
"The NEC Group has reached a point in its evolution where it needs to be able to adopt the financial disciplines of a private, rather than council-owned company," he said.
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Any early cloud will break, with some sunny spells developing during the morning.
Generally cloudy with fairly persistent rain through this evening.
A cloudy evening, with sporadic outbreaks of rain or drizzle. These will ease away overnight, with a few clear spells around dawn.