A French businessman and owner of two bronze animal head sculptures from China's Yuanmingyuan, or the Old Summer Palace, said Friday that he will return the sculptures to China.

In his meeting with Chinese officials in Beijing, Francois-Henri Pinault, CEO of France-based PPR Foundation, said the transfer of the sculptures, of a rabbit head and rat head respectively, will be completed within the second half of 2013.

Twelve bronze animal head figures, along with several other treasures, were looted from Yuanmingyuan when the site was ransacked by French and British troops in 1860.

The rat and rabbit heads were auctioned by Christie's in Paris in 2009. Pinault then bought the sculptures from the owner after the auction.