Completion due on NEC sale says Birmingham City Council

The NEC could be worth "as little as £300m" a finance expert has said

The sale of Birmingham's NEC Group is expected to be announced shortly, the city council has said.

The council had originally hoped the sale would be completed by the end of 2014 but said an announcement was now expected in the new year.

The group of venues includes the National Exhibition Centre, the International Convention Centre, the LG Arena and the National Indoor Arena.

It is being sold because the council faces a £1.1bn equal pay backlog bill.

The pay settlements have been agreed with thousands of women who, over many years, were paid less by the city council than workers - mainly men - who did equivalent jobs.

The council said it was "making progress in discussions with a preferred purchaser for the NEC".

"An announcement will be made in due course with completion expected in the new year," said a representative.