The purpose of the company is: The holding of commercial, industrial and financial participations in companies; the acquisition, administration and management of participations in companies, both in Switzerland and abroad. It may also carry out all real estate transactions in Switzerland and abroad, in particular the promotion, purchase, sale, renovation and rental of real estate, all real estate brokerage operations as well as the planning and execution of construction work. It may carry out all operations related to this activity as well as all operations likely to promote the purpose and interest of the company, in particular carrying out movable trading operations. It may create branches in Switzerland and abroad, participate in other companies in Switzerland and abroad, acquire companies with similar purposes, merge with such companies and conclude all contracts likely to develop or achieve its purpose or related thereto directly or indirectly. It may grant or receive loans from or in favor of its shareholders, as well as to or from all companies of the same group.