Acquisition, holding, management and disposal of participations. The company is active worldwide and may establish branches and subsidiaries in Switzerland and abroad, participate in other companies in Switzerland and abroad, grant loans to direct or indirect shareholders and to companies of the group, provide guarantees or sureties of any kind for liabilities towards companies of the group; these loans, guarantees or sureties may also be granted without remuneration or compensation and participate in cash pooling operations within the group. The company may acquire, encumber, sell and manage real estate in Switzerland and abroad. Furthermore, the company may carry out all business activities that are suitable to promote or facilitate the development of the company and the achievement of its purpose.