Red Devils chief Sir Alex Ferguson is following a similar route in the development of the 19-year-old, after his first-team opportunities were limited at Old Trafford last season.
King enjoyed a three-month loan stint with Preston in the Championship last term and he will now get an opportunity to get more first-team experience under his belt in the German Bundesliga next season.
Borussia Monchengladbach's Max Eberl said: "We have an agreement with Manchester United for a loan of one year. United presented very extensive contract work because they care intensely about their players and would like to stay in constant contact with us.
"The contracts must be translated and checked, that's now going back and forth between the lawyers of the two clubs. Our goal is to have him in Bad Worishofen next Monday."
Oslo-born King, who has made two appearance for the Norway U19's, scoring on both occasions, will hope to use his season in Germany to force his way into the United first team in the future like numerous stars of the past.
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