The NESTLE WATERS GROUP has bought the SVYATOI ISTOCHNIK (Saint Spring) company, a major Russian producer of bottled drinking water, announced Richard Olfert, general manager of the RENAISSANCE CAPITAL company, which acted as a financial consultant in the deal. NESTLE has acquired 100% of the Russian company.

Two other contenders were COCA-COLA and WIMM-BILL-DANN. SVYATOI ISTOCHNIK was established in 1994 and now controls nearly 10% of the Russian drinking water market. NESTLE currently controls such well-known bottled-water producers as VITTEL and PERRIER.

(NewsBase 18.vii.02)