The Queen’s grandson Peter Phillips and his estranged wife Autumn Phillips have reached a final settlement over their divorce.

A spokesman for the former couple confirmed they were pleased to be able to report that the “financial aspects of their divorce have been resolved through agreement”.

The terms of the agreement were approved and ordered by the High Court on Monday, the spokesman said.

“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,” the spokesman added.

Cheltenham Festival 2020 – Champion Day – Cheltenham Racecourse
Autumn Phillips (right) during the Racing Post Arkle Challenge Trophy Novices’ Chase alongside Peter Phillips at the Cheltenham Festival in 2020 (Andrew Matthews/PA)

He said: “Both Peter and Autumn are pleased to have resolved matters amicably with the children firmly at the forefront of those thoughts and decisions.

“Peter and Autumn have requested privacy and consideration for their children as the family adapts to a new chapter in their lives.”

The pair separated in 2019 and announced their split in February last year, describing the decision as sad but amicable.

They were pictured together a month later, celebrating a win at the Cheltenham races.

The Phillipses said at the time they would share custody of their two daughters and that the decision was “the best course of action for their two children and ongoing friendship”.

The Princess Royal’s only son, Mr Phillips is the first of the Queen and Duke of Edinburgh’s grandchildren to divorce.

Festival of British Eventing – Gatcombe Park
Peter Phillips with his children Savannah (left) and Isla (Steve Parsons/PA)

He met Canadian-born Autumn Kelly at the 2003 Montreal Grand Prix, when he was working for Formula One racing team BMW Williams and she was employed in the main BMW hospitality suite.

He invited her to a post-race party and they kept in touch when he returned to England.

But the Queen’s grandson did not tell her he was a member of the royal family at first.

She found out after spotting him in a TV programme about the Duke of Cambridge and confessed to being scared at the prospect of dating a Windsor.

Mr Phillips proposed during a rain shower as they walked their dog and the pair wed at St George’s Chapel in Windsor Castle in 2008.