Bojinov has spent the last six months on loan at Parma and will join the Italian side in a £5million deal.
“I am satisfied, as we had been carrying on these negotiations since January,” explained President Tommaso Ghirardi.
“Over time the price-tag rose and lowered. We received all the documentation now, so on Wednesday we’ll announce the details in a Press conference.
“We have reached an agreement with Manchester City. Bojinov had received offers from Sevilla and other teams, but his desire to stay was essential.
“I am very grateful to Valeri, who strongly wanted to remain at Parma. The details of the contract will now be hammered out between our director and the players’ staff.”