Croatian side Rijeka say striker Andrej Kramaric has completed a move to Leicester, subject to securing a work permit.
He is believed to have cost the Premier League's bottom club just short of £10M.
Kramaric has managed two goals in four appearances for the Croatian national team.
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The 23-year-old had been linked with the likes of Chelsea and Inter Milan and has scored 28 goals in 24 games for club and country this season.