Nestle Waters has announced that it is to team up with Coca-Cola in Indonesia. The two companies are to create a joint-venture to take a majority stake in the country's second-biggest bottled water company, Nestle said in a statement.

In a statement released late yesterday, Nestle said the joint-venture, called Waters Partners Bottling, had acquired a 65% stake in PT AdeS Alfindo Putrasetia (AAPS), the number two player in bottled water in Indonesia.

No financial details were given.