The acquisition, holding, administration and disposal of participations in companies in Switzerland and abroad, with the proviso that if real estate held through participations is located in Switzerland, it may only be used for exclusively commercial purposes. The Company may carry out all commercial or financial transactions and conclude all agreements that serve directly or indirectly its purpose or are directly related to it. The Company may grant loans or provide any other form of financing to its direct or indirect parent company and to the direct or indirect subsidiaries of the Company or its parent company, and may grant any type of security for the obligations of these companies, including in the form of pledges or fiduciary transfers of the Company's assets, or in the form of guarantees of any kind, for consideration or not. The Company may establish branches and subsidiaries in Switzerland and abroad and acquire, manage, hold and sell real estate, with the proviso that if such real estate is located in Switzerland, it may only be used for exclusively commercial purposes.
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