Deals of the day- Mergers and acquisitions

Tue Dec 31, 2013 6:00am EST

Dec 31 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1100 GMT on Tuesday:

** Warren Buffett's Berkshire Hathaway Inc struck a deal to buy a Phillips 66 business that makes chemicals to improve the flow potential of pipelines for around $1.4 billion of stock.

** South Korea has picked local lenders BS Financial Group Inc and JB Financial Group Co as preferred bidders to buy regional bank units of Woori Finance Holdings Co, top regulator Financial Services Commission (FSC) said. BS Financial offered more than 1.2 trillion won ($1.1 billion) for a 57 percent stake in Kyongnam Bank, while JB Financial submitted a bid of nearly 500 billion won for Kwangju Bank, wire service Yonhap reported.

** Billionaire businessman Carlos Slim's private equity fund has sold its stake in Mexican pharmaceutical company Landsteiner Scientific to a fund related to that company. The filing Landsteiner made to Mexico's stock exchange did not disclose the value of the stake.