Argentine playmaker Javier Pastore will join French Ligue 1 club Paris Saint-Germain from Serie A's Palermo, said Italian news agency ANSA on Saturday.

The transfer fee is reported to be 43 million euros (about 62 million U.S. dollars) as the agreement was struck at midnight, according to Palermo president Maurizio Zamparini.

Pastore, 22, is one of the most coveted players in world football, who was also being tracked by Chelsea. He played 35 matches for Palermo in Serie A last season, scoring 11 goals.