Acquisition, holding, sale of participations in all commercial or real estate companies as well as the management of participations and financial investments. The company may engage in any financial, commercial or industrial activity directly or indirectly related to its purpose; create branches or subsidiaries in Switzerland and abroad; participate in other companies in Switzerland and abroad, acquire companies with an identical or similar purpose or merge with such companies; acquire or sell real estate; grant loans or guarantees to shareholders or third parties if it serves its interests; carry out all operations and conclude all contracts intended to develop and expand its purpose or directly or indirectly related to it.