The governments of Holland and France will jointly purchase two Rembrandt paintings for a total cost of €160 million ($179 million US), AFP reports.

The paintings currently belong to the Rothschild family and have only been shown publicly once in the last 150 years. Once the purchase is complete, they will rotate in residency between the Louvre and the Rijksmuseum.

"We believe these two rare portraits should always be allowed to be admired together, alternately between the Rijksmuseum and the Louvre, so they are accessible to the broader public, both young and old," said Dutch Minister for Culture Jet Bussemaker.