ATHENS – A private foundation said Wednesday it had bought a painting by Greek-born Spanish Renaissance master El Greco, once owned by Filipino dictator Ferdinand Marcos, in order to return it to Greece.

The painting is to be given to the national gallery in Greece by the foundation on long-term loan.

"The Crowning of the Virgin," an early 17th century draft for a larger work by El Greco was bought from an unidentified US art dealer in the summer, said Alexander S. Onassis foundation chairman Anthony Papadimitriou.

"We were informed the painting was for sale and acted quickly... because very few El Greco works are sold on the market," Papadimitriou said.

He declined to name the sum paid.

The piece had originally been found among El Greco's belongings when he died and was then owned by several collectors including Marcos before it was seized and auctioned by the US government around 12 years ago, director of the national gallery Marina Lambraki-Plaka told journalists.

The work painted between 1603 and 1605 was a draft for a painting now in a monastery in the Spanish town of Illescas.

The national gallery already has three of the nine El Greco paintings now on public display in the country: the 16th century "St Peter" and "The Burial of Christ" and the early 17th century "Concert of the Angels."

Born Domenikos Theotokopoulos on the Greek island of Crete, El Greco (1541-1614) achieved renown as one of the most respected masters of the Spanish Renaissance.

The Onassis foundation was founded by Greek shipping magnate Aristotle Onassis in his son's memory.