Milan have bought Parma out for Alberto Paloschi, sending him to Genoa in a co-ownership deal, and loaned Bruno Montelongo to Bologna.
Rossoneri youth academy product Paloschi has been playing for Parma since the summer of 2008, as the two clubs shared his contract 50-50.
The young striker postpones his return to San Siro again, as Milan have bought out Parma's half of the player and sold it back to Genoa.
Paloschi will play for the Rossoblu for the rest of the current season.
Milan have also loaned another youth team player, Uruguayan full-back Montelongo, to Bologna.