Nov 9 (Reuters) - Echelon Financial Holdings Inc EFH.TO :
* PRESS RELEASE - ECHELON FINANCIAL HOLDINGS TO SELL ECHELON INSURANCE TO CAA CLUB GROUP
* ECHELON FINANCIAL HOLDINGS INC - DEAL FOR $175 MILLION
* ECHELON FINANCIAL HOLDINGS INC - EFH HAS COMMITTED TO DELIVER ECHELON INSURANCE TO CAA WITH A MINIMUM CAPITAL TEST ("MCT") RATIO OF 220% AT CLOSING
* ECHELON FINANCIAL HOLDINGS INC - CAA WILL ASSUME UP TO $4 MILLION OF EFH'S TRANSACTION EXPENSES IN RELATION TO AGREEMENT.
* ECHELON FINANCIAL HOLDINGS - BOARD HAS DETERMINED THAT DEAL IS IN BEST INTEREST OF CO, HAS UNANIMOUSLY APPROVED DEAL
* ECHELON FINANCIAL HOLDINGS INC - DEAL FOR $175 MILLION PAYABLE IN CASH
* ECHELON FINANCIAL HOLDINGS INC - EFH WILL BE REQUIRED TO PAY A BREAK FEE OF $6.1 MILLION IN EVENT BOARD ACCEPTS OR SUPPORTS A SUPERIOR PROPOSAL.