August 12, 2014 / 3:56 PM / 3 years ago

Conwert says it is in talks to sell its Czech, Slovak portfolios

BERLIN, Aug 12 (Reuters) - Austrian property group Conwert Immobilien said it is in advanced talks over the sale of its Czech and Slovak portfolios as it announced second-quarter results had taken a hit from interest rate swaps.

Conwert said it also wrote down the value of individual properties in the Czech Republic and Slovakia by around 5 million euros ($6.7 million), and reduced the value of an office property in Ukraine by 2 million, giving an overall group loss of between 22 and 24 million euros for the first half.

It recorded non-cash expenses of around 32 million euros in the first half, tied to interest rate swaps.

It said it will publish full first-half results on Aug 27. (1 US dollar = 0.7486 euro) (Reporting by Victoria Bryan; editing by Edward Taylor)

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