all real estate activities, provided they are not subject to the Federal Act on the Acquisition of Real Estate by Foreigners of December 16, 1983 (LFAIE), in particular the purchase and sale of all real estate, brokerage and management. The company may also: a) carry out all commercial, financial, movable and real estate transactions, provided they are not subject to the Federal Act on the Acquisition of Real Estate by Foreigners of December 16, 1983 (LFAIE); b) take participations in other companies; c) in general, carry out all operations having a direct or indirect connection with the company's purpose in Switzerland and abroad. The company may have subsidiaries or establish branches in Switzerland and abroad.