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ING sells ING Direct UK at 320 mln euro loss

AMSTERDAM, Oct 9 (Reuters) - Dutch bank and insurance group ING said on Tuesday it had agreed to sell ING Direct UK to British bank Barclays , taking a 320 million euro loss on the transaction after tax.

ING is in the process of divesting its insurance operations and certain other assets as it prepares to repay Dutch state aid received in 2008, and moves to increase its capital level.

(Reporting by Gilbert Kreijger; Editing by Mark Potter)

((gilbert.kreijger@thomsonreuters.com)(+31205045007)(Reuters

Messaging: gilbert.kreijger.reuters.com@reuters.net))

Keywords: ING BARCLAYS/