The sale of the could be completed this week, according to reports.
Sky News says LDC, the private equity arm of Lloyds Banking Group, will take control of the group whose venues include the Genting Arena and National Exhibition Centre in and and in Birmingham city centre.
The group was by as it bids to address a deluge of compensation claims relating to equal pay.
An announcement about the deal, which Sky sources said could be worth in the region of between £250 million and £300 million, is expected to be made as soon as tomorrow.
Casino group Genting, which recently for the former LG Arena, is putting the finishing touches to Resorts World, a major entertainment and exhibition venue on land next to the arena and NEC.
It is unclear, according to Sky, whether LDC will acquire the entire business or Birmingham City Council will remain a shareholder.
LDC and the NEC Group declined to comment.