Valencia's Banega spent last season on loan at Atletico Madrid
Everton have managed to obtain a work permit for Argentine international midfielder Ever Banega after a Home Office hearing.
The 21-year-old is expected to arrive on Merseyside shortly to complete a season-long loan deal from Valencia.
Boss David Moyes aims to employ Banega in the same role as Mikel Arteta, who is sidelined with a knee injury.
Moyes said: "Ever is on a year's loan. If he's good we will keep him, if he's not we can always send him back."
Valencia signed Banega from Boca Juniors in January for £15.4m but he spent last season on loan at Atletico Madrid.
Moyes added: "Our application for a work permit has been passed and hopefully we will get to see him in a few days.
"He has very good ability and is a little bit similar to Mikel Arteta in lots of ways in that he can retain the ball and pass it."
Everton still insist they have had no further contact with Manchester City over Joleon Lescott, although Eastlands sources are now suggesting Richard Dunne may make a return to Goodison Park in part-exchange.
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