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Wolves have completed the signing of defender Georg Margreitter for an undisclosed fee from FK Austria Wien.

The 23-year-old, capped 11 times by Austria's Under-21 side, has agreed a four-year contract at Molineux.

"We have been searching for a central defender and Georg fits the billing," said Wolves manager Stale Solbakken.

Wolves striker Steven Fletcher to Sunderland.

The Championship club accepted a bid, which could eventually be worth around £14m, for the Scotland international.

Wolves' defensive problems were evident last season when they conceded 82 goals in 38 Premier League matches and finished bottom of the table.

Margreitter will challenge Roger Johnson, Richard Stearman and Christophe Berra for one of the centre-back berths.

"He wanted to come to England and we have been following him for the last six or seven weeks," Solbakken told the

"It is a good signing not only for this season but also for the future because I think he has good years in front of him."

Margreitter added: "I am very proud to sign for a club with such a big tradition in England and it's a dream come true.

"There were several English clubs watching me but it has all happened in the last few days and I am very excited.

"I have seen the stadium as well and have a good feeling about everything. There is a sense of familiarity about the club and I think it is the perfect size. It is going to be an honour to play for them."

Margreitter will not feature against Derby on Saturday and will join up with his new team-mates next week.