According to Sport, Valencia are set to announce the signing of Paraguayan international striker Nelson Valdez from Rubin Kazan.
Los Che are understood to have reached agreement with the player and will now convince his club to let him leave for around the €3m mark, which would include variables such as appearances and goals scored.
New Valencia boss Mauricio Pellegrino has been scouring the market for a forward to take some of the goalscoring burden off the prolific Roberto Soldado and Valdez would welcome a return to Spain
The 28-year-old spent the 2010-11 season at Hercules but was transferred to Rubin Kazan for €4m after the Alicante-based club suffered relegation.
Valdez had previously spent nine years in Germany with Werder Bremen and Borussia Dortmund and notched a brace for the former against Valencia in the 2004-05 Champions League.
Valdez represented his country at two World Cup finals, facing Spain in the quarter-finals in 2010, and played in two Copa Americas.