Acquisition, management and disposal of participations in companies, undertakings or organizations; acquisition and disposal of real estate. The company may establish branches and subsidiaries in Switzerland and abroad, participate in other companies or merge with them, and directly or indirectly finance companies in which it has a participation. The company may acquire, hold, encumber and dispose of properties in Switzerland and abroad. The company may conduct all business, enter into obligations and conclude contracts that are suitable to promote the company's purpose and the development of the business, or that are directly or indirectly related to it.