Use Regex
:
var result = Regex.Replace(html, @"?DIV>", "");
UPDATED
as you mentioned, by this code, regex removes all tages else B
var hmtl = " xpto
";
var remainTag = "B";
var pattern = String.Format("(?(?!{0})[^<>]*(?)", remainTag );
var result = Regex.Replace(hmtl , pattern, "");