To carry out the following operations: all real estate transactions; holding and taking participations in all companies; the company may carry out, either for its own account or for the account of third parties, all financial, commercial, industrial, movable and immovable operations directly or indirectly related to the main purpose; the company may also grant loans to its shareholders and to companies in the group, guarantee, endorse, stand surety for loans granted by third parties to its shareholders or to companies in the group, or the transfer of real estate guarantees in their favor, it being specified that: the acquisition of real estate in Switzerland is strictly limited to the purchase of commercial property (permanent establishments), excluding all residential property; in compliance with the LFAIE, the company will not take participations in companies holding residential real estate in Switzerland.