Linde AG and Praxair Inc. revealed on Thursday they are nearing a deal to sell most of the former's business with industrial gases in North America in order to get a green light for their $83 billion merger. Negotiations are in an advanced phase with Messer Group GmbH and CVC Capital Partners Ltd., according to the statement.

Included in the deal are the German- and United States–based manufacturers' "certain" assets in South America, while the overall transaction would depend on the said regulatory clearance, they said.