San Jose-based Silicon Valley Group Inc has now bought from Perkin-Elmer Corp its entire 1.99m holding of common shares in SVG Lithography Systems Inc, which was originally wholly-owned by Perkin-Elmer, and also repaid an $8.2m note payable by SVG Lithography to Perkin-Elmer. The price paid was 10,000 shares of Silicon Valley Group preferred stock valued at $17m convertible into 1m shares of Silicon Valley Group common subject to adjustment. The preferred stock pays 7% and can be redeemed by Silicon Valley Group at any time at its option and is subject to mandatory redemption beginning in 1997. With completion of the current transaction, Silicon Valley Group has increased its ownership in SVG Lithography to 94%.
