Peter Phillips and his estranged wife, Autumn Phillips, released a joint statement about their divorce settlement on Monday.
The statement on behalf of the couple read: "Mr Peter Phillips and Mrs Autumn Phillips are pleased to be able to report that the financial aspects of their divorce have been resolved through agreement, the terms of which have been approved and ordered by the High Court today.
"Whilst this is a sad day for Peter and Autumn, they continue to put the wellbeing and upbringing of their wonderful daughters Savannah and Isla first and foremost."
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It continued: "Both Peter and Autumn are pleased to have resolved matters amicably with the children firmly at the forefront of those thoughts and decisions.
"Peter & Autumn have requested privacy and consideration for their children as the family adapts to a new chapter in their lives."
The couple announced their separation in February last year, but had been living apart since late 2019.
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The couple with their daughters, Savannah and Isla in 2014
Peter and Autumn first met at the Montreal Grand Prix back in 2003, when the glamorous Canadian worked as a management consultant.
The pair tied the knot at St George's Chapel in Windsor on 17 May 2008, and are proud parents to two daughters: Savannah, ten, and Isla, nine.
The Princess Royal's only son is the first of the Queen and the late Duke of Edinburgh's grandchildren to divorce.
Peter, who does not carry out royal duties, was last seen publicly when he walked alongside his cousins, Prince William and Prince Harry, in the procession at Prince Philip's funeral in Windsor in April.
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