Council set to reveal fate of NEC Group
BIRMINGHAM City Council is expected to confirm today whether it will be selling off top assets such as the NEC Group in an effort to pay legal claims over equal pay totalling more than £1bn.
The authority has called a press conference today to be attended by council leader Sir Albert Bore and the chief executive of the NEC Group, Paul Thandi.
The council said earlier this year it had been “actively reviewing” the strategic potential of the NEC Group, one of the crown jewels in the city’s commercial property portfolio.
The review is now complete but it could spell the departure of the group from the council’s ownership.
The local authority is thought to have repaid around £500m in compensation to thousands of women who were paid less than men who did equivalent jobs. The repayments followed a landmark court victory by the women workers.
However, it is understood there is still a shortfall of more than £500m.
Assets under review include the National Exhibition Centre, the LG Arena, the National Indoor Arena and the International Convention Centre.
