Nigerian international Joe Aribo opened the scoring early in the second-half but his effort was cancelled out by Colombian forward Rafael Borre to make it 1-1 and take the game into extra-time.
Neither side could find the winner and therefore the fixture went to penalties with Aaron Ramsey missing one penalty as the Bundesliga side came out on top.
Eintracht Frankfurt were crowned Europa Leaguechampions with a 5-4 penalty shoot-out victory over Rangers.
Borna Barisic - 7
Had his hands full against Knauf but Croatia international left back coped well against Frankfurt dangerman.
Ryan Jack - 7
One half chance shot over the bar in typically solid performance in engine room before making way for Steven Davis.
John Lundstram - 7
Not as influential as previously on this European run. Got away with high boot on Sebastian Rode early on.
Glen Kamara - 7
£50,000 signing from Dundee gave strong performance in a European final, one of Rangers’ best value for money signings
Ryan Kent - 6.5
Rangers dangerman picked a poor evening to have a quiet night. Slashed one great opportunity wide of goal
Joe Aribo - 7.5
Auxiliary striker was enduring a tough evening when he capitalised on Tuta’s fall to score with a fine finish.