Last Updated: Thu, 26 Jun 2014 12:50
Manchester City have completed the signing of Porto defensive midfielder Fernando.
No transfer fee was announced by City, but Porto had issued a statement to the Portuguese Securities Market Commission (CMVM) on Wednesday evening saying a deal worth £12million had been struck between the two clubs.
The statement read: "FC Porto hereby informs the market that it has reached an agreement with Manchester City for the permanent transfer of professional footballer Fernando Reges for 15million euros."
City were linked with a move for the 26-year-old Brazilian in January but a deal did not materialise.
However, he now becomes City's second signing of the summer after they had earlier landed right-back Bacary Sagna on a free transfer from Arsenal.
Fernando will give City manager Manuel Pellegrini an extra midfield option in addition to Yaya Toure, Fernandinho and Javi Garcia.
With City restricted to a net spend of £49million this summer as punishment for breaching UEFA's Financial Fair Play regulations, the deal represents good value.
"I am so happy to finally be joining Manchester City," Fernando told City's website after completing the switch.
"I know there was talk of me possibly signing last January so I am delighted that the deal has now been done and that I am a City player."
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