VIENNA Jan 17 Austrian property group Conwert
Immobilien is writing down up to 187 million euros
($250 million) in goodwill on future sales and property values,
it said on Thursday.
Conwert expects lower sales transactions at it repositions
itself as a portfolio manager following the acquisition of
German residential property group Kommunale Wohnen,
which it said it expected to complete in the next few days.
The company said it would write down 115 million euros in
future sales goodwill, 2 million on customer and management
relationships, and up to 70 million on properties in central and
eastern Europe and Luxembourg, where markets were tough.
Excluding such one-offs, Conwert said it would still achieve
its forecast for 2012 pretax profit of 50 million euros,
according to preliminary results.
($1 = 0.7486 euros)
(Reporting by Georgina Prodhan; Editing by Gary Hill)