The acquisition, holding, administration, sale and management of participations in the sense of a holding company, excluding operations prohibited by the LFAIE. The company may acquire and administer participations, on its own account or on behalf of third parties, in commercial or industrial enterprises, located in Switzerland or abroad, by acquiring shares, bonds, participations, holding claims or any other suitable form, acquiring patents and trademarks. The company may grant loans to shareholders or third parties, act as guarantor for loans subscribed by shareholders or third parties, guarantee these loans by issuing or pledging mortgage securities or by subscribing to any other financial commitment, pledge its assets to secure any claim. The company may carry out any commercial and financial activity, any investment or other activity directly or indirectly related to its purpose or which is suitable to achieve it. It may carry out these transactions on its own account or on behalf of third parties, as a representative or agent, or have them executed on its behalf by third parties. The company may establish branches and subsidiaries in Switzerland and abroad and participate in other companies in Switzerland and abroad.