The acquisition, administration and management of direct and indirect participations in all companies, in Switzerland or abroad, in the sense of a holding company, with the ownership of commercial properties as the case may be. The company may also undertake, on its own account or on behalf of third parties, all commercial, movable and financial transactions, in direct or indirect relation to its purpose, in any form whatsoever, in particular in the form of participations. The company may open branches in Switzerland and abroad, establish or acquire any company pursuing an analogous or complementary purpose. The company may grant loans or guarantees to its shareholders or to third parties.