The 23-year-old is set for the Etihad Stadium after the Italian side announced that a deal worth a total of €30 million has been reached to sell him
The Premier League runners-up will pay €27 million plus add-ons for the Montenegrin forward.
Fiorentina officials, including CEO Sandro Mencucci, were at Carrington on Thursday to finalise terms with City, Goal understands.
The Serie A side will get their wish for a package meeting their €30m asking price, with €27m set to be paid up front and a further €3m to be paid in performance-related bonuses.
The 23-year-old underwent tests at Fiorentina's medical centre on Monday, accompanied by the club's doctor, Jacopo Giuliattini.
The news comes 24 hours after Sevilla's announcement of striker Alvaro Negredo's departure to the Etihad Stadium a Manuel Pellegrini continues to add to his squad.