Aug 15 (Reuters) - Intact Financial Corp IFC.TO :
* INTACT FINANCIAL CORPORATION TO ACQUIRE LEADING SPECIALTY INSURER THE GUARANTEE COMPANY OF NORTH AMERICA AND FRANK COWAN COMPANY LIMITED
* INTACT FINANCIAL CORP - CASH CONSIDERATION OF APPROXIMATELY $1 BILLION.
* INTACT FINANCIAL CORP - PRINCETON HOLDINGS WILL CONTINUE TO RETAIN FULL OWNERSHIP OF ITS OTHER BUSINESSES
* INTACT FINANCIAL - EXPECTS ACQUISITION TO BE IMMEDIATELY ACCRETIVE TO NET OPERATING INCOME PER SHARE
* INTACT FINANCIAL CORP - TO FINANCE DEAL , INTACT HAS ACCESS TO OWN CAPITAL RESOURCES AND BANK FACILITIES AND MAY EVALUATE CAPITAL MARKETS ALTERNATIVES
* INTACT FINANCIAL CORP - EXPECTS ACQUISITION TO GENERATE A RETURN ON CAPITAL ABOVE ITS THRESHOLD
* INTACT FINANCIAL CORP - DEBT TO CAPITAL RATIO IS EXPECTED TO RETURN BELOW TARGET LEVEL OF 20% WITHIN 24 MONTHS FOLLOWING CLOSING OF ACQUISITION
* INTACT FINANCIAL CORP - ENTERED INTO DEFINITIVE AGREEMENT WITH PRINCETON HOLDINGS TO ACQUIRE GUARANTEE COMPANY OF NORTH AMERICA