HONG KONG, March 9 (Reuters) - Shares of Yingde Gases Group
Co Ltd climbed 2.4 percent to a near two-year high on
Thursday after shareholders voted for major board changes,
ending a four-month battle for control of China's top industrial
Shares rose to HK$6.53, the highest since May 2015. That
compared to a 0.8 percent fall in the benchmark index.
A majority of Yingde Gases shareholders voted to keep two of
its co-founders and main shareholders on its board and oust five
other board members, ending a battle for control of the $1.5
Amid the power struggle, U.S. industrial gas maker Air
Products has made a takeover approach for Yingde Gases,
while Hong Kong-based private equity firm PAG has agreed to buy
a substantial stake.
(Reporting by Donny Kwok; Editing by Randy Fabi)