Pereira joins Sao Paulo on an 18 month loan.
He said: "It's a pleasure and a big responsibility to play here, it will be a big challenge in my career as I want to keep the success Uruguayans have had here.
"It's a dream to play for one of the biggest clubs in the world, no doubt that it will add a lot to my career. I want to stay here a long time and make the fans happy."
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