Uzbek businessman Jahongir Artkhodjaev has officially consolidated his hospitality assets by merging Nevada-registered StageWise Strategies Corp. with the local hotel group TEG SPV. Under the terms of the transaction, the American entity acquired nearly 100% of the Uzbek group in exchange for issuing approximately 183.1 million new common shares. The newly formed corporate structure encompasses major assets including Hilton Tashkent, Wyndham Bukhara, and the Central Asian Expo center. Following the transaction, StageWise rebranded as TEG Overseas, Inc., pivoting its core operations toward managing these Central Asian tourism and exhibition properties.

Regulatory filings submitted to the US Securities and Exchange Commission (SEC) reveal that the deal was executed entirely as a share exchange, meaning former owners received equity rather than cash consideration. Artkhodjaev and his daughter retained dominant control, holding roughly 99.4% of the expanded US entity. Financial disclosures within the filings, however, indicate a downward trend in performance during the first half of 2026, with revenue dropping by 6.2% and net income falling by 30%. Management attributes this contraction to mounting regional competition from newly opened upscale hotels in Tashkent and lower occupancy rates at flagship properties.

Governance of the restructured enterprise has been shifted to a newly appointed board of directors featuring a mix of returning executives and independent international advisors. While the company continues to service substantial debt obligations held with commercial banks, it attempts to position itself as a cross-border public vehicle originating from Uzbekistan, trading publicly on the OTC Markets basic tier.

Source: podrobno.uz