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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Rolls-Royce is to invest £150 million over the next four years in new and existing civil aerospace facilities in the East Midlands.
Staying cloudy with further rain in the north.
Wet for most with strong coastal winds and feeling cool.