Zenit have confirmed the signing of Malcom from Barcelona, who leaves after just one season at the club.
Zenit have won the race for the Brazilian despite a late move from Premier League side Everton.
The Toffees have signed three players from Barcelona in the last 12 months but have missed out on Malcom’s signature.
Everton turned to Malcom after struggling to get a deal over the line for Crystal Palace star Wilfried Zaha and will now have to reassess their transfer targets.
Malcom cost Barcelona £36.5m 12 months ago but has now put pen to paper with Zenit.
The Russian giants have reportedly agreed an initial €40m (£36.6m) fee with a further €5m (£4.6m) in performance related add-ons.
Barcelona are trying to balance their books this summer and Malcom has been forced out of the club as a result.
Ernesto Valverde’s side signed Antoine Griezmann earlier this month to all but guarantee Malcom’s departure, while Barcelona are also still keen on re-signing Neymar from Paris Saint-Germain.
The 22-year-old was limited to just six starts and nine substitute appearances in LaLiga last season and he returned one goal and two assists in that time.
