Dembele joins Atletico on loan, Slimani signs for Lyon

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(Reuters) - Olympique Lyonnais forward Moussa Dembele has joined La Liga side Atletico Madrid on loan, with an option to buy, with Leicester City striker Islam Slimani signing for Lyon on a free transfer, the French club said on Wednesday.

Atletico have signed striker Dembele to boost their La Liga title charge and Champions League hopes after Diego Costa left the club this month.

Dembele, 24, scored 45 goals in all competitions for Lyon and joins Atletico on loan until the end of the season.

"This loan, in the amount of 1.5 million euros ($1.82 million) is accompanied by a purchase option set at 33.5 million euros to which may be added incentives up to 5 million euros, as well as a sell-on fee of 10% on a possible future transfer," Lyon said in a statement

Slimani, who scored 13 goals in 47 games in all competitions for Leicester, joins Lyon on an 18-month contract. The Algeria international's deal at Leicester was due to end in the close season.

"I'm very happy and proud to join a big club like Lyon," Slimani said "I've joined a team that's top of the league, playing well and scoring goals. I want to help the club achieve its objectives."

(Reporting by Manasi Pathak in Bengaluru; Editing by Toby Davis)