Jan. 6 (Bloomberg) -- Nestle S.A. and The Coca-Cola Company said they have agreed to focus the geographic scope of their ready-to-drink tea joint venture, Beverage Partners Worldwide (BPW), on Europe and Canada.

In Taiwan and Hong Kong, Coca-Cola will enter into a license agreement with Nestlé for the Nestea brand. In all other territories the joint venture will be phased out in a transition to be completed by the end of 2012 subject to any regulatory approval.

The Nestea license granted by Nestle to Coca-Cola in the U.S. will terminate at the end of 2012.

Link to Statement:{NSN LXDZ803V280J <GO>}

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