Mergers & Acquisitions ·
TEG Overseas completes acquisition of Uzbek hospitality assets and appoints new board
STWITeg Overseas, Inc.
TEG Overseas, Inc. has completed the registration of its acquisition of TEG SPV Participatory Interests in Uzbekistan, officially taking ownership as the company name is updated in the state registry. The transaction triggered a complete change in leadership: Temur Zokirov, Bahtiyor Kadirov, and Elina Davidyan resigned from the Board, while Anita Mendiratta (Chair), Wesley T. Davis, Marc William Kasher, Richard Nolan Sharko, and Irodakhon Abduvakhitova were appointed as independent directors. Elmurod Sopiev remains CEO and President, and Temur Zokirov serves as CFO and Treasurer. The Board established Audit, Compensation, and Nominating committees. Additionally, the fiscal year end was changed from September 30 to December 31. TEG Overseas operates in the hospitality industry.