The purchase, sale, holding, administration and management of financial participations. It can carry out any act and exercise any activity that are directly or indirectly related to its purpose. It can establish branches and subsidiaries in Switzerland and abroad and can hold participations in other companies. It can acquire, hold, encumber with limited real rights, administer and alienate real estate in Switzerland (for exclusively commercial purposes only) and abroad. It can grant loans or any other form of financing to affiliated companies or to third parties, as well as provide securities of any kind, for the direct or indirect benefit of affiliated companies or third parties.