KB Financial Group to acquire Korean unit of Prudential Financial for $1.9bn.

KB Financial Group, a financial services company, is set to acquire the South Korean unit of Prudential Financial, an insurance firm, for $1.9bn. Completion of the transaction is subject to customary closing conditions, including regulatory approvals, and is expected to occur by the end of 2020. Proceeds of the transaction are expected to be used for general corporate purposes.