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HOLDING COMPANY INCREASES STAKE IN ORGANIC

Published on .

(Aug. 7, 2001) -- A holding company part-owned by Omnicom Group increased its stake in Organic, San Francisco, according to documents filed with the Securities and Exchange Commission.

Seneca Investments LLC, an e-services holding company jointly managed by investment group Pegasus Investors II and Omnicom, disclosed it had acquired an additional 4.36 million shares of Organic on Aug. 3, bringing its ownership to 22.1% of the interactive agency.

Omnicom transferred its shares in Agency.com and Organic to Seneca earlier this year in exchange for equity in the firm. -- Mercedes Cardona

Copyright August 2001, Crain Communications Inc.

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