In a statement issued at 9.30pm Sunday, the Federal Reserve said it had approved their applications to become bank holding companies, subject to regulation by the Fed.
A private equity consortium made up of Providence Equity Partners, Carlyle Group and Blackstone walked away from a deal with Informa, the publisher of Lloydâ??s list, after the consortiumâ??s lending banks were unable to finance the bid amid the global financial crisis.