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Uzbekistan’s Committee for the Development of Competition and Protection of Consumer Rights has approved the acquisition by the American company StageWise Strategies Corp. of a 99.99999012 percent stake in TEG SPV, the holding entity that owns the Hilton Tashkent hotel, the Wyndham Bukhara hotel and the CAEx exhibition centre.
The transaction restructures the ownership chain of three prominent Uzbek hospitality and events assets without moving the properties themselves. The hotels and the exhibition centre remain physically in Uzbekistan, but the holding company that controls them will now sit inside a United States-registered corporate structure.
How the deal was assembled
The chain of transactions began in June 2026, when Jahongir Artykhodjaev acquired 74.2 percent of StageWise Strategies Corp. for $750,000, giving him a controlling interest in the American company.
In October 2026, StageWise completed its acquisition of TEG SPV. Rather than paying cash, StageWise issued its own shares to Tourism and Entertainment Group LLC, a company controlled by Artykhodjaev and his daughter Irodakhon Abduvakhitova. As a result of that share issuance, the combined stake of Tourism and Entertainment Group LLC and Abduvakhitova in StageWise reached 99.44 percent.
The competition committee’s approval, reported on 1 November 2026, was the regulatory step required to formalise the transfer of TEG SPV into the StageWise structure.
What changes and what does not
The Hilton Tashkent, Wyndham Bukhara and CAEx will continue to operate in Uzbekistan under their existing brand arrangements. The practical change is at the holding level: TEG SPV, which previously sat within an Uzbek corporate structure, is now a subsidiary of a US-registered company whose shares are predominantly held by Artykhodjaev’s family interests.
The source article does not detail the regulatory rationale behind the committee’s approval or specify any conditions attached to the clearance.
In a separate statement cited in the same report, Artykhodjaev said that AKFA Holding — a distinct business he is associated with — is prepared to employ 10,000 Uzbek nationals currently working abroad, including those based in Russia. The source article does not elaborate on the timeline or terms of that offer.