The acquisition, holding, management, financing and disposal of all kinds of participations, in particular in other companies or commercial, industrial, real estate or financial enterprises in Switzerland and abroad, directly or indirectly, as well as the purchase, sale, management, administration, operation and development of real estate and all real estate transactions, excluding all real estate transactions prohibited by the Federal Law on the Acquisition of Real Estate by Foreigners. The company may: carry out any financial, commercial and industrial activity directly or indirectly related to its purpose; establish branches or subsidiaries in Switzerland and abroad; participate in all enterprises having a direct or indirect connection with its purpose; grant loans or guarantees to associates or third parties, if this serves its interests.