Brazilian playmaker Diego Ribas has joined Atletico Madrid on loan from Wolfsburg for the rest of the season.

The 28-year-old has already spent a year on loan at the Spanish side during the 2011-12 season and was a key part in the side that won the Europa League in Diego Simeone's first season in charge.

"I feel very emotional," he told Atletico's website.

"I am returning to a team where I fitted in fantastically well. I am very excited. I am only thinking about working hard to help the team continue winning."

Atletico are still in the running for three trophies this season as they sit joint top of La Liga, will face Real Madrid in the semifinals of the Copa del Rey and return to Champions League action next month where they will meet AC Milan in the last 16.

Diego will be eligible for the games against Milan as he hasn't played in European competition this season.

Meanwhile, Atletico have farmed two of their own midfielders out on loan for the rest of the season.

French international losuha Guilavogui will return to Saint Etienne just six months after joining Atletico for a fee in the region of 10 million euros ($13.6 million, £8.3 million).

And Spanish under-21 international Oliver Torres will join Villarreal.