Didac Vila will arrive in Valencia on Tuesday to put the finishing touches to his move from Milan.
According to Superdeporte, the 23-year-old – who boss Mauricio Pellegrino has brought in to replace Jordi Alba following his departure to Barcelona – will initially sign a loan deal at Mestalla at a cost of €800,000.
Los Che will then have an option to buy the Spanish Under-21 international for €4.2m next summer, a relationship that could see his contract extended until June 2017 if they decide keep him.
Catalan-born Vila began his career in Espanyol’s youth academy, making his La Liga bow in 1-0 home win over Athletic Bilbao in January 2010, but moved to Milan 12 months later for €4m.
However, he made just one official appearance for the Serie A giants and returned to Espanyol on a season-long loan before the start of last season, making 37 starts for Los Periquitos.