Atletico Madrid has reached an agreement with Benfica to sign midfielder Nicolas Gaitan.

Gaitan made 37 appearances this season as Benfica claimed a league and cup double for the third year in a row.

The 28-year-old, who joined from Boca Juniors in 2010, is part of Argentina's squad competing the Copa America Centenario.

Gaitan will travel to Madrid to "complete all the formalities" once his participation in the tournament in the United States is over.

He has made 15 appearances for his country, scoring twice.

No fee was disclosed when Atletico announced the news on Thursday.