
"Villarreal and Espanyol have reached an agreement for the transfer of young central defender Eric Bailly, who will play with the Yellow Submarine for the next five-and-a-half years," said a statement on the Villarreal website.
The 20-year-old, who is currently representing Côte d'Ivoire at the CAF Africa Cup of Nations, has made just five La Liga appearances for Los Pericos since making his first team debut in October.
Villarreal currently lie sixth in La Liga and are on a 17-game unbeaten run in all competitions. However, they were in need of defensive reinforcements after selling Brazilian Gabriel Paulista to Arsenal earlier this week.