Mergers & Acquisitions ·
TEG Overseas subsidiary signs non-binding deal to acquire Alfraganus hotel complex for $1M plus $100M debt
STWITeg Overseas, Inc.
TEG SPV LLC, a wholly owned subsidiary of TEG Overseas, Inc., entered into a non-binding preliminary agreement to acquire the Alfraganus hotel complex from affiliate Dreams Island LLC. The transaction involves paying UZS 12 billion (approx. $1 million) and assuming $100 million in construction debt owed to Halyk Bank. The complex comprises six internationally branded hotels totaling 1,210 rooms and a conference hall in Tashkent, Uzbekistan. Completion is contingent on bank consents, regulatory approvals, and finalizing definitive agreements by June 30, 2027. TEG Overseas, Inc. operates an integrated hospitality, tourism, and events business in Uzbekistan.