The acquisition and management of participations in all companies with exclusively commercial purposes, both in Switzerland and abroad. The company may acquire, hold, administer, control, sell and transfer all securities, shares, bonds, loans, deposits, unsecured obligations, bonds and any other type, including but not limited to, obligations and securities issued or guaranteed by any company, wherever it is incorporated or carries out its activities, or by any government, sovereign, commissioner, agency or public authority, supreme, dependent, municipal, local or other in any part of the world, and the description of movable and immovable property for its own account in any part of the world. The company may provide all types of services to any affiliated company (i.e. direct or indirect subsidiaries, sister or parent companies). The company may establish branches and subsidiaries in Switzerland or abroad. The company may provide financial assistance to any affiliated company (i.e. direct or indirect subsidiaries, sister or parent companies), including providing loans, advances, guarantees or securities of all kinds, for consideration or free of charge. It may also grant loans, advances, guarantees or securities of all kinds to third parties. The company may acquire, hold and dispose of real estate exclusively for commercial purposes in Switzerland. The company may raise funds by borrowing in any form or by any type of issue, including securities, debt instruments or bonds, and may issue generally securities of any nature. The company may also carry out all operations that promote or facilitate its development or that are directly or indirectly related to its corporate purpose. The company may also carry out all operations and conclude any transaction that promotes or facilitates its development or that is directly or indirectly related to its corporate purpose.