Atletico Nacional bounced back from their FIFA Club World Cup semi-final disappointment to defeat Club America on penalties in the match for third place at the International Stadium Yokohama.
The Copa Libertadores winners took a two-goal lead with defender Miguel Samudio scoring an own-goal on six minutes, before Alejandro Guerra doubled Atletico Nacional's advantage on 26 minutes. But Club America battled back to restore parity, with Michael Arroyo finding the net before the break, while substitute Oribe Peralta converted a 66th-minute penalty.
After a 2-2 stalemate, the match for third place went to penalties with substitute Borja stepping up and taking the decisive winner for the Colombian side.
While it was the first Club World Cup meeting between the two sides, the reigning Copa Libertadores and CONCACAF Champions League winners had faced off before in the 2005 Copa Sudamericana, with America running out 7-4 winners over two legs in the Round of 16.
In an entertaining first half, Atletico Nacional took an early lead on six minutes when Mateus Uribe played an exceptional through-ball to Orlando Berrio. But, before the forward could get a touch onto the ball, Samudio turned it into his own net.
Club America displayed good movement going forward in search for an equaliser, with Nacional goalkeeper Franco Armani being forced into a valiant sliding tackle on Sambueza inside the area, before the Argentinian midfielder played a threatening low pass across the face of goal to Silvio Romero, whose feint touch went narrowly wide.
Atletico Nacional doubled their lead on 26 minutes when Guerra capped off a slick team move by finding the net. Macnelly Torres played in Berrio with a low pass inside the area, who in turn found Guerra in the centre, and the Venezuelan midfielder fired past goalkeeper Moises Munoz to the delight of Nacional's jubilant travelling support.
The Colombian side continued to press with Mosquera forcing Munoz into a strong save on 30 minutes, before the forward rattled the woodwork just minutes later. Club America pulled one back on 38 minutes through Arroyo, however, with the Ecuadorian showing good composure to convert from close range and getting the better of lurking centre-backs Alexis Charales and Felipe Aguilar.
Looking galvanised after their goal, Club America came close to grabbing an equaliser just after the break when substitute Carlos Quintero sent a delightful deep cross to Romero on the right who raced into the area, but the Argentinian's powerful strike was tipped out for a corner. Romero then went close again on 50 minutes, his shot on the turn denied by Armani.
At the other end, Torres played in a smart low ball to Guerra and while he looked to have tricked goalkeeper Armani into going to ground thanks to some silky skills, the midfielder scooped his effort from close range over the bar. It was a chance that Nacional were left to rue when Club America grabbed an equaliser from the penalty spot on 66 minutes.
Samudio was brought down by defender Farid Diaz inside the area and substitute Peralta made no mistake from the spot, restoring parity for the Mexican side.
Not long after coming on as a substitute, Miguel Borja launched an audacious low effort from outside of the area, forcing Munoz into making a stretching save to tip the ball wide. Nacional continued to press with Nieto testing Munoz with a drilled effort from 20 yards on 85 minutes, before defender Bruno Valdez produced a vital block to deny Borja moments later.
But with a game locked at 2-2 following the final whistle, the match for third place went to penalties with Nacional's Borja stepping up and taking the decisive winner.
Alibaba YunOS Auto Player of the Match: Orlando Berrio (Atletico Nacional)