The acquisition, holding, sale, management and administration of all participations in all companies or enterprises in Switzerland and abroad; however, the company may, if applicable, hold, directly or indirectly, real estate in Switzerland, only if they have an exclusively commercial use; the company may establish branches in Switzerland and abroad; it may grant or guarantee loans or advances to its associates, close or subsidiary companies; the company may participate in other enterprises and establish branches and subsidiaries, both in Switzerland and abroad; it may acquire, hold and dispose of real estate and, in general, carry out any activity directly or indirectly related to its purpose.