Organic Sells Stock to Seneca

SAN FRANCISCO–Organic, one of the last remaining i-shops in the Bay area, said yesterday that the majority of its common stock has been sold to Seneca Investments. The finalization of this deal comes more than two months after Organic Holdings, the previous majority shareholder, said it would be selling off its stock. Seneca, a holding company established by Omnicom earlier this year, will now hold 80.9 percent of Organic’s outstanding shares.According to a statement issued by Organic, changes to the original purchase agreement included a reduction in the cash down-payments payable at the closing in respect of the earn-out from $16.2