Acquisition, exploitation, management and disposal of participations in other companies as well as financing of subsidiaries and affiliated companies. The company may establish branches in Switzerland and abroad, participate in undertakings in Switzerland and abroad, acquire or establish other undertakings and acquire, manage, exploit and dispose of patents, licenses or other intellectual property rights. The company may acquire, encumber, sell and manage real estate in Switzerland and abroad. It may also provide financing for its own account or for the account of third parties, as well as grant guarantees and sureties for subsidiaries.