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Bid for Luminar withdrawn

23 March 2006
Bid for Luminar withdrawn

Property tycoon Nick Leslau and millionaire entrepreneur Sir Tom Hunter have withdrawn their offer for struggling nightclub operator Luminar.

In a statement to the City, they said: "After a period of internal discussion, Mintgate (the pair's investment vehicle) has no intention of making an offer for Luminar at this time."

It is a retreat from their previous position, in which they said Mintgate was considering an aggressive takeover of the Chicago Rock Café owner.

Mingate holds a 4.6% stake in Luminar and did not rule out making a bid within the next six months demanded by City regulations.

Luminar has seen sales collapse

By Tom Bill

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