ShapeRange.Regroup (PowerPoint)

Regroups the group that the specified shape range belonged to previously. Returns the regrouped shapes as a single Shape object.

The Regroup method only restores the group for the first previously grouped shape it finds in the specified ShapeRange collection. Therefore, if the specified shape range contains shapes that previously belonged to different groups, only one of the groups will be restored. Note that because a group of shapes is treated as a single shape, grouping and ungrouping shapes changes the number of items in the Shapes collection and changes the index numbers of items that come after the affected items in the collection.

Dim shpRegroup As Shape
Set shpRegroup = ActivePresentation.Slides(1).Shapes(1).Ungroup.Regroup()