The purpose of the company is to acquire, hold and manage participations, as well as all permissible activities associated therewith. The company may establish branches and subsidiaries, both domestically and abroad, participate in other companies or merge with them. The company may, even without adequate consideration, conduct business with or for related parties, in particular its shareholders and other affiliated companies, notably by granting loans to these parties or providing guarantees, sureties, pledges or other securities to secure their obligations. The company may acquire, hold, manage, encumber and dispose of real estate, both domestically and abroad. The company may engage in all transactions, incur obligations and enter into contracts that are suitable to promote the company's purpose and the development of the enterprise, or that are directly or indirectly related thereto.