KB Financial acquires Prudential's S Korean unit for $1.89b

Photo: Reuters

KB Financial Group Inc has signed a share purchase agreement to buy a 100% stake in Prudential Financial Inc’s South Korean unit for 2.3 trillion won ($1.89 billion), the group said in a filing on Friday.

The deal marks the No.1 U.S. life insurer’s exit from the South Korean market after 30 years.

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