The acquisition, holding, administration, management and sale of all direct or indirect participations, in the sense of a holding company, with the specification that it may only hold participations in real estate companies with exclusively commercial use in Switzerland. The company also operates public establishments and other businesses. Furthermore, it may carry out all financial, commercial, movable or immovable transactions, either on its own account or on behalf of third parties, which are directly or indirectly related to its corporate purpose and may be interested in all similar enterprises, in particular by acquiring participations in similar enterprises. The company may also establish branches and subsidiaries in Switzerland and abroad. The company may also grant loans to its shareholders and/or guarantee, secure or co-sign loans granted by third parties to its shareholders.