NESTLE WATERS (turnover EUR 5 billion in 2001), which groups the activities of NESTLE Switzerland in the water sector, has signed an agreement with AS WATSON (Hong Kong group HUTCHISON WHAMPOA) for the acquisition of POWWOW, specialised in the distribution of bottled water, for the sum of EUR 560 million. In 2002, POWWOW made a turnover of EUR 120 million with 1500 employed in seven European countries.