Robinson has accepted an offer of just over B1.25million for his 19.6 per cent stake in the club from Vladimir Romanov, and will sever all ties with the Scottish side once the deal is concluded on December 8, reports uefa.com.
Hearts supporters hope the Lithuanian's investment could prevent the sale of the club's 118-year-old Tynecastle stadium to property developers.
The Hearts board agreed to sell the stadium to Cala Management for B30million if they cannot find the funding to keep it before January 2005. They are now hoping that Romanov, who was one of the founders of Lithuania's top team FBK Kaunas, can help keep the club at Tynecastle until a new stadium is built and avoid a move to Murrayfield, Edinburgh's rugby union stadium, next season.
Romanov, who has previously been in talks with Dundee FC, Dundee United FC and Dunfermline AFC, is a major shareholder in a company that has a holding in Lithuanian bank, Ukio Bankas.
A spokesman for the businessman said: "We believe that in Hearts we have identified a highly attractive opportunity for investment."
