The 2011 Copa Libertadores finalists won the four-team tournament after a dominant display against the Chileans.
Uruguayan giants Penarol defeated Palestino of Chile 4-2 at the Centenario stadium in Montevideo on Sunday to win the Copa Bimbo.

Penarol won the match courtesy of two goals each from Emiliano Albin and Santiago Silva. While Nicolas Canales and David Llanos scored for the visitors.

After dominating their opponents at the beginning of the match, Penarol finally went ahead in the 28th minute when Albin dribbled past two Palestino defenders before beating goalkeeper Felipe Nunez with a well-placed shot from the edge of the area.

Ten minutes later Penarol were awarded a penalty, and up stepped an inspired Albin to double their advantage with a perfectly-placed shot.

Penarol continued to dominate their opponents after the interval, with Silva scoring their third goal in the 49th minute when he finished off a spectacular collective move that involved five Penarol players.

But two minutes later Canales pulled a goal back for Palestino, when he slotted home from a swift attack.

However, Silva restored Penarol's advantage in the 63rd minute when he slotted the ball home after receiving a brilliant pass from Facundo Guichon, who had rushed forward on a powerful run.

With three minutes remaining on the clock, the visitors scored a consolation goal when striker Llanos met a smart cut back with a powerful shot.

In the earlier third-place match, Nacional of Uruguay came from behind to beat Universidad San Martin de Porres 2-1 thanks to goals from Alvaro Recoba and Mathias Vecino.

Colombian striker Luis Perea had put the Peruvians ahead in the 9th minute, however, former Inter Milan striker Recoba drew Nacional level with a trademark free-kick six minutes later.

Vecino scored Nacional's eventual winner in the 37th minute, while Heber Arriola failed to take the game into a penalty shoot-out after having his penalty saved by Nacional goalkeeper Leonardo Burian ten minutes from full-time.