Koln coach Zvonimir Soldo recently expressed his desire to add some more creativity to his squad and the Croatian gaffer made the 22-year-old Tosic his prime target.
A deal already appeared to be on the horizon last week, but the transfer almost collapsed this weekend when Benfica made a move for Tosic, too. However, the Serbian international has made the decision to join Koln after all.
The Geissbocke have reportedly paid Manchester United €500,000 to borrow Tosic until the end of the season.
Neither club has yet confirmed the transfer, but Koln are expected to announce the deal at a press conference later on Tuesday.
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