Argentina international Pablo Piatti is set to join Valencia from recently-relegated Almeria for an undisclosed fee, subject to a medical.
The 22-year-old striker is on the verge of a five-year deal, with a friendly between the two clubs also being part of the agreement.
A quarter of the transfer fee will be paid to Estudiantes, Piatti's first club, as part of a sell-on clause dating back to the player's move to Spain in 2008.
Valencia president Manuel Llorente said: "He is a young player who has made a speedy progression but also has much experience at the highest level.
"We are happy to have him as part of the squad. I can reveal now that there was a long and secretive negotiation process but we have got the result that we wanted.
"Piatti is also from the province of Cordoba that has given us players such as (Mario) Kempes, Claudio Lopez and (Pablo) Aimar, so let's hope this is a good sign."
When asked about, he reiterated his belief that the player would stay put, saying: "Mata is staying in Valencia."