Portugal midfielder Renato Sanches has signed for Swansea City on a season's loan from Bayern Munich and the club have also re-signed striker Wilfried Bony from Manchester City.
Swans boss Paul Clement worked with Sanches, 20, during his time as Bayern's assistant manager.
Bony left south Wales for Manchester for £25m in January 2015 and his return on a two-year deal coincides with Fernando Llorente's move to Tottenham.
The fee for Bony is thought to be £12m.
The Ivorian's two-year contract has an option for a further season.
Sanches joined Bayern from Benfica for 35m euros in May 2016.
He made 25 appearances for the German champions last season and was also part of Portugal's Euro 2016-winning squad.
Sanches is away on Under-21 duty and is expected to arrive at the Liberty Stadium next week.
Swansea are thought to have paid a loan fee of around £4m and will also pay most of the midfielder's wages.
Bayern and the player preferred Swansea to several other interested clubs, including Juventus and Benfica.
"He is a player I know well, having worked with him for six months at Bayern Munich," Clement told the club's website.
"He has not played as much as he would have liked. But this move to Swansea and the Premier League will provide him with a real positive development experience."
There is no option in the deal for Sanches' move to be made permanent.
Bony scored 25 Premier League goals for Swansea before his move to Manchester.
He was tracked by the Swans in recent weeks as they prepared for the departure of last-season's top scorer Llorente, who was also a target for Chelsea.
However, Swansea have been unable to sign West Brom winger Nacer Chadli, having refused to meet the £26m asking price.
Meanwhile, goalkeeper Mark Birighitti has left Swansea to join Dutch side NAC Breda on a free transfer.
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