Villarreal defender Gabriel Paulista is to join Arsenal with striker Joel Campbell moving the opposite way on loan, according to the Spanish club.

The La Liga outfit say an agreement has been reached in principle for the £15m-rated 24-year-old to move to London.

They also say Costa Rica international Campbell, 22, will move to Spain for the rest of the season.

However, Arsenal will have to secure a work permit before completing a deal for uncapped Brazilian Paulista.

Arsenal manager Arsene Wenger confirmed on Thursday that the Premier League club was in talks over the signing of the centre-back, who joined Villarreal from Brazilian club Vitoria in 2013.

Given the potential work permit issues, he said there was a 50-50 chance the player would move to the Emirates Stadium.

Campbell signed for Arsenal in 2011 from Costa Rican club Saprissa.

He has since been loaned out to French club L'Orient, Spanish club Real Betis and Greek side Olympiacos.

Campbell helped his country reach the quarter-finals of the World Cup in Brazil in 2014 and has made 10 appearances - without scoring a goal - for Arsenal this season.