Tirlán has announced that it has raised €230.3 million from the placement of 17 million of its shares in Glanbia plc as part of the process of closing its exchangeable bond of €250 million. To fund the repurchase of the bond, Tirlán placed 17 million shares in Glanbia plc with institutional investors yesterday at a share price of €13.55 per share. The proceeds of €230.3 million from the share placement were used to fund the concurrent repurchase and cancellation of the outstanding exchangeable bond. Glanbia participated in the share placement by purchasing and cancelling 7.38 million shares, representing around 2.9% of the company's share capital. Following the completion of the sale of 17 million shares in Glanbia, Tirlán Co-Op now holds 17.86% of the publicly quoted shares in the plc.