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Published on .

(May 14, 2001) -- Omnicom Group has completed the transfer of its stakes in Agency.com, Organic and Razorfish to Seneca Investments LLC, in exchange for preferred stock in Seneca. Omnicom now beneficially owns less than 5% of its outstanding common shares of each. Seneca is believed to be the new name for what Omnicom had formerly referred to as Pegasus Partners II, with which it has announced plans to form an e-services holding company. Omnicom officials could not be reached for comment.

Copyright May 2001, Crain Communications Inc.

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