Shareholders of property developers of Ciputra Group (Ciputra Development/CTRA), Ciputra Properti/CTRP), Ciputra Surya/CTRS) have on Tuesday (Dec. 27) approved the merger of said three entities at an extraordinary general meeting (EGM). The merger is expected for the first quarter of 2017. PT Sang Pelopor will hold 25.48% stake in Ciputra Development, the surviving entity, and Credit Suisse AG Singapore Limited owns 6.97%. While public investors will hold the remaining 65.31%.To subscribe please click here