Aug 31 (Reuters) - National Australia Bank Ltd NAB.AX :
* NAB ANNOUNCES AGREEMENT TO SELL MLC WEALTH TO IOOF-NAB.AX
* EXPECTED TO RECEIVE ABOUT $220 MILLION OF SURPLUS CASH FROM MLC IN FORM OF A PRE-COMPLETION DIVIDEND
* TRANSACTION IS ESTIMATED TO RESULT IN A POST-TAX LOSS ON SALE OF ABOUT $400 MILLION
* ON A PRO FORMA 30 JUNE 2020 BASIS, NAB GROUP'S CORE EQUITY TIER 1 CAPITAL EXPECTED TO INCREASE BY ABOUT 30BPS
* DEAL EXPECTED TO RESULT IN A PRO FORMA CET1 RATIO OF ABOUT 11.9%, MODEST UPLIFT IN NAB'S ROE