The acquisition, holding, sale or management of direct or indirect participations in all commercial, civil, financial, real estate and industrial companies or enterprises, Swiss and foreign, in the sense of a holding company, excluding operations prohibited by the LFAIE. The company may establish branches or subsidiaries in Switzerland and abroad, participate in all enterprises having a direct or indirect connection with its purpose and grant loans or guarantees to associates or third parties, if it serves its interests, excluding operations prohibited by the LFAIE.