The acquisition of participations in other companies or enterprises, in whatever form (in the case of companies holding real estate in Switzerland, these must have an exclusively commercial use); The company may in particular acquire by subscription, purchase, exchange or in any other manner, all securities, shares and other participation rights, bonds, claims, deposit certificates and in general all values or financial instruments issued by any public or private entity, including partnerships; The company may carry out all commercial, industrial and financial, real estate and movable transactions, directly or indirectly related to its corporate purpose or likely to promote its development; However, in the course of carrying out its financial activities, the company shall refrain from implementing any financial activity that would be subject to a license or authorization, unless the company has obtained such a license or authorization from the financial supervisory authorities.