Yingde Gases jumps to near 2-yr high after shareholders vote for board change

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

gases company.

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

billion firm.

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)