#USA #New York #TEG SPV LLC #Uzbekistan Hospitality #StageWise Strategies

TEG's Landmark Merger with StageWise Strategies

In a groundbreaking move, TEG SPV LLC, a prominent player in Uzbekistan's hospitality and tourism sector, has formally merged with the American company StageWise Strategies Corp. This merger marks a historic milestone, as TEG becomes the first Uzbekistan-based company to trade its shares on the U.S. stock market, operating under the new name TEG Overseas, Inc.

A New Era for TEG

The transaction was finalized through a share exchange agreement that positions TEG as the main operating entity of the merged public company. This development is set to empower TEG to harness the rapid growth trends in Uzbekistan's tourism sector and propel its planned development projects.

With the rapid influx of foreign tourists and continued investments in economic and social growth, TEG is ideally situated to exploit the evolving landscape. In 2025 alone, TEG's portfolio generated revenues of approximately $42.9 million, reflecting a remarkable increase as the company moves forward.

Expanding into New Markets

Anita Mendiratta, TEG's Chairperson, emphasized the potential for TEG to significantly contribute to Uzbekistan's national identity and competitiveness in tourism. The merger comes at a crucial moment when Uzbekistan aims to position itself as one of the most attractive and hospitable business and tourist destinations in Central Asia.

The country saw nearly 11.7 million foreign visitors in 2025, largely due to its dedicated tourism infrastructure effort. The United Nations recognized Uzbekistan as one of the world’s fastest-growing markets for inbound tourism, showcasing its increasing appeal as a global destination. This remarkable growth is also supported by the national development strategy, which prioritizes the tourism sector.

A Culture of Hospitality

Uzbekistan's rich cultural background as a historical crossroad of the Silk Road enhances its hospitality appeal. Continuous modernization, alongside investments in transport infrastructure, strengthens its position as an emerging year-round destination for international tourists, business travelers, and event participants. The combination of TEG's well-established portfolio and its association with the AKFA group allows for the stability required to navigate this growing market.

Strategic Benefits of Being Part of AKFA Group

Belonging to the AKFA Group, one of Central Asia's largest private business groups employing around 38,000 people, TEG can leverage numerous advantages, such as:

• - Access to Major Partners: It provides connections to seasoned developers and construction partners.
• - Operational Efficiency: Scale benefits lead to effective procurement and streamlined operations.
• - Faster Strategic Execution: Enables quicker realization of growth initiatives.

Irodakhon Abduvakhitova, TEG’s board member and investor, noted that the long-standing relationship with AKFA has been pivotal in TEG's evolution. This ecosystem supports TEG's mission to grow its business in Uzbekistan and beyond by recognizing opportunities and executing projects efficiently.

Future Growth Initiatives

With intent to utilize the advantages of accessing the American capital markets, TEG is poised for strategic acquisitions that will enhance its portfolio of hotel and event facilities. The company aims to expand its offerings to cater to a wider demographic of corporate and leisure travelers, while continuing to build its reputation through thoughtful ownership and operational models.

Advisory firms involved in the merger include Kingswood ArcStone and Bluestone Investment Bank, while legal assistance is provided by respected firms like Ellenoff Grossman & Schole LLP and Dentons Uzbekistan. As TEG moves forward, the opportunities for growth in Uzbekistan’s expanding tourism industry seem vast, ushering in a new chapter in its operational journey and the hospitality landscape of the region.

Conclusion

This merger not only positions TEG as a significant player in the international market but also injects new life into Uzbekistan's growing tourism scene. As TEG Overseas, Inc. embarks on this new phase, the hospitality sector can anticipate innovative offerings and expansive growth prospects, thereby making a remarkable impact within its industry and contributing to Uzbekistan’s broader economic development.