Atletico complete signings of Rafael Santos Borre, Matias Kranevitter

Atletico Madrid sealed the dual signings of Colombian striker Rafael Santos Borre and Argentine midfielder Matias Kranevitter on Friday.

Santos Borre, 19. completed a €5 million move, signing a six-year deal that will see him stay at the Colombian club Deportivo Cali on loan for the 2015-16 season.

Kranevitter, 22, signed a five-year contract after an €8m fee was agreed. He will stay at River Plate on loan until January.

Of Santos Borre's signing, Atletico director Jose Luis Caminero said: "We are very satisfied with the agreement reached with Deportivo Cali, because Rafael is a player with huge prospects and with an incredible future.

"He will contribute perfectly to our goal of increasing the level of our team and the competitiveness of the group."

Speaking to AS, Santos Borre said he was looking forward to following in the footsteps of fellow Colombians Jackson Martinez, who joined Atletico from Porto this summer, and Falcao, who had two outstanding years at the club from 2011 to 2013.

"I know this is a big club which has won a lot of trophies recently and has won a lot of prestige," Santos Borre said. "I have been told to relax, that I am joining a great club.

"I know it is a top-level club. I know the competition for places is very tough -- but with humility and hard work you can win a place."

The striker impressed for Colombia at the Sudamericano youth tournament and subsequent Under-20 World Cup in New Zealand, and has already been called up to the senior national squad.

His move to Atletico had been mooted all summer, with agent Helmut Wenin suggesting in early August that the best outcome for all parties would be for his client to join them now but spend another season on loan in Colombia.

Kranevitter has been called in to Argentina's squad for their September friendlies. He told reporters he was "very excited to sign for Atletico."

"I've not spoken much with the coach [Diego Simeone], but I know some players already and I'm very happy to be coming to such a big club," he said. "This is the club where I want to play."