Lyon have sold defender Lamine Gassama to Lorient and allowed striker Ishak Belfodil to join Bologna on loan.
The Ligue one outfit have also signed UAE defender Hamdan Al Kamali on loan until the end of the season.
Senegal international Gassama, who came through the club's youth academy, has signed a four-and-a-half contract with Les Merlus after the clubs agreed an undisclosed fee.
"I think FC Lorient can be very good for me," Gassama told Lorient's official website. "There is a very good coach and very good players and I also like the family aspect of the club."
Lyon coach Remi Garde has also let France Under-20 forward Belfodil sign for Serie A side Bologna until the end of the season, with the option to make the move permanent in the summer.
The 20-year-old, who also came through the club's youth system, has made just seven first team appearances for the Ligue 1 club this season.
Meanwhile, 22-year-old defender Al Kamali has sealed a move to Stade de Gerland from UAE side Al Wahda until the end of June.
Lyon have the option to make the move permanent should the defender prove a success.