"Thanks to terrific collaboration between political institutions, foundations, business and private sponsors, this iconic work by Picasso will have its home in the heart of the cultural metropolis of Munich," Markus Blume, the Bavarian culture minister, said in a press release.
"A masterpiece of Cubism of priceless art historical value," Claudia Roth, the German culture minister, described the painting, emphasizing its significance in art history.
The Pinakothek der Moderne said the painting fills a gap: "Until now, the Munich collections had no central work devoted to analysing the human form from Picasso's peak period," said Oliver Kase.
The acquisition was funded by a collaboration of public and private entities, showing a strong commitment to cultural preservation and access in the region.
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