Former Spanish U21 international Angelino is set to join RB Leipzig on a five-year deal from Manchester City.
The 23-year old spent the second half of 2019-20 season on loan with the Bundesliga side, but boss Julian Nagelsmann previously expressed concern over whether they could afford his purchase clause.
However, according to reports from Diario AS, the two clubs have now reached an agreement rumoured to be in the region of €25m, €5m lower than the previously agreed clause.
Angelino joined RB Leipzig in January 2020, making 18 appearances in all competitions in their extended campaign, including a key role in their run to the Champions League last four.
He came through the youth ranks at Spanish club Deportivo la Coruna before joining City in 2014.
The Premier League side then loaned him out to partner clubs Girona CF and New York City FC, before temporary spells at Real Mallorca and NAC Breda.
He joined PSV Eindhoven ahead of the 2018-19 season, with Pep Guardiola opting to exercise their buy back option on him.