Blackstone

Blackstone confirms acquisition of NEC Group

Private equity company Blackstone has announced the acquisition of the UK’s NEC Group – encompassing the NEC, Resorts World Arena, ICC Birmingham, The Ticket Factory and more –from the private equity arm of Lloyds Banking Group (known as LDC) in a deal worth a reported £800m. LDC originally backed a management buyout of the Group from Birmingham City Council in 2015 for £307m. Since then, it...

Blackstone nearing billion-dollar deal to buy UK’s NEC Group

American private equity firm Blackstone is nearing a deal to buy NEC Group for over £800m (US $1.06bn), Sky News reported yesterday. Blackstone is the world’s largest property investor, and recently agreed a £1.4 billion deal to buy Network Rail’s commercial property portfolio, comprising thousands of premises under railway arches across the UK. Blackstone specializes in private equity, credit and...