According to Jornal de Noticias, the teams have reached an 'agreement in principle' for the transfer, and the player will sign a five-year contract with Arsenal.
Many clubs, including Napoli and Southampton, are said to be interested in the 21-year-old, but Arsenal managed to ‘anticipate' and are ‘very close' to completing the transfer.
According to Jornal de Noticias, the formalization of the transfer is "imminent."
For the previous few months, Nuno Tavares' exit from Benfica has been a recurrent issue in local newspapers.
Jorge Jesus has no plans to keep him in the squad, with Alex Grimaldo the first choice at left-back, and the Eagles have been attempting to sell him for some time.
Despite Napoli's considerable interest, it was recently reported that the two sides were unable to reach an agreement on the transfer.
Southampton was suggested as an alternative, but it now appears that Arsenal has surged to the top of the list and is set to sign him.
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