The 85 paintings came under state ownership in 2008 after the nationalisation of failed bank BPN, following an uproar over their proposed sale to foreign buyers.

The presentation of the terms of agreement for the transfer of the works to Porto is to take place on Wednesday at the Porto city council by prime minister António Costa and culture minister Graça Fonseca.

The mayor of Porto, Rui Moreira, and the head of the Serralves Foundation, Ana Pinho, will also be present at the event.

The paintings went on display for the first time at the city’s Serralves museum in an exhibition in September 2016.