INDONESIA: Nestle Coke JV ups Ades water stake
Financial details about Nestle and Coca-Cola's Indonesian acquisition have been released. As reported last month, Nestle Waters has teamed up with Coca-Cola in Indonesia to take a majority stake in the country's second-biggest bottled water company.
The joint-venture, called Waters Partners Bottling, said that it paid US$14m for a 55% stake in PT Ades Alfindo Putrasetia.
In a statement to the Jakarta Stock Exchange, Water Partners said it purchased 30,472,200 of Ades shares for the equivalent of US$0.46 per share.
Ades said the deal raised Water Partner's stake in Ades to 65% from 10%.
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