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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A Sandwell man who stabbed his partner of 20 years to death following an argument has been convicted of her murder.
The incident, in which it is believed a man attempted to take a child from her family, happened at around 3pm yesterday afternoon.
Martin Carter spotted Sarah Burke and let his dog loose to attack her - which was then filmed on a mobile phone. She later killed herself.