The Queen's eldest grandson Peter Phillips and wife Autumn have finally divorced over a year after announcing their separation. .

A statement, released by a spokesperson on behalf of the couple today, said: '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 of their wonderful daughters Savannah and Isla first and foremost.

The breakdown of Autumn and Peter's marriage will be particularly painful for the Queen, 95, who enjoys a close relationship with her grandson's wife.

The Queen's eldest grandson Peter Phillips and wife Autumn have separated following 12 years of marriage, Buckingham Palace confirmed today.

Pictured, Peter and Autumn leave St George's Chapel, following their wedding in May 2008.

Pictured, Autumn and Peter (right with their daughters in front) share a joke with (from left) Camilla, Kate and Meghan at Trooping the Colour in 2018.

The statement issued by Gerard Franklin their official spokesperson when they separated last year had read: 'After informing HM The Queen and members of both families last year, Peter and Autumn jointly agreed to separate.

Peter and Autumn, who stay largely out of the media spotlight, were last seen publicly together when they joined the Queen and Prince Charles at the annual Highland Games Gathering at Braemar in September last year, pictured.

Peter and Autumn have requested privacy and compassion for their children while the family continues to adapt to these changes.'  .

The news came weeks after it emerged Mr Phillips, who has no royal title and receives no taxpayer money as a 'non-working' royal, had appeared in a Chinese TV advertising campaign for milk. .

'This is what I drink,' he says as the tagline reads: 'British royal family member, Peter Phillips.'.

Peter and Autumn, who stay largely out of the media spotlight, were last seen publicly together when they joined the Queen and Prince Charles at the annual Highland Games Gathering at Braemar in September 2019.

The couple tied the knot at St George's Chapel, Windsor Castle, in 2008, in a service attended by senior royals including the Queen and the Duke of Edinburgh (behind the bride and groom) Princess Anne and Vice Admiral Sir Timothy Lawrence (right), Prince Andrew, Prince Charles, the Duchess of Cornwall and Prince Harry (all to the left above the Queen and Prince Philip)!

Pictured, Autumn with the Queen at Royal Ascot last year (left) and with Peter in 2007, a year before their wedding.

Peter has enjoyed a decidedly more low-key life than his cousins Prince William and Prince Harry that started with his mother Princess Anne's decision not to give him and his younger sister Zara, now married to Mike Tindall, any royal titles.

It means Peter and Zara were granted a level of freedom not afforded to titled members of the royal family like William and Harry, and, to a lesser extent, Princess Beatrice and Princess Eugenie. .

The couple tied the knot at St George's Chapel, Windsor Castle, in 2008, in a service attended by senior royals including the Queen, Prince Charles, the Duchess of Cornwall, Prince Andrew and Prince Harry. .

Peter Phillips, who has no royal title and receives no taxpayer money as a 'non-working' royal, had appeared in a Chinese TV advertising campaign for milk.

Pictured, Mr Phillips in the campaign.

The Queen, Prince Charles and Autumn and Peter Phillips at the Braemar Royal Highland Gathering in September 2019.

Autumn is thought to be a much-liked member of the royal family and enjoys a particularly good relationship with the Queen.

The Phillipses lived in Hong Kong after Peter moved jobs within the Royal Bank of Scotland to head their sponsorship activities in the region

The separation of Peter and Autumn Phillips brings to an end a 17-year royal romance that reads like a real-life fairytale, taking Autumn from a personal assistant to a respected - and much-loved - member of the royal family. 

Unlike some other royal couples, the early days of Autumn and Peter conducted the early days of their relationship largely out of the public eye, thanks largely to Peter's role as a 'non-working' royal and lack of royal title. 

The couple tied the knot at St George's Chapel, Windsor Castle, on 17 May 2008 in front of 300 guests, including the Queen, the Duke of Edinburgh, Princess Anne and Prince Harry

Pictured, Peter and Autumn with their daughters at Trooping the Colour last year 

The couple have chosen to keep their daughters largely out of the spotlight, although they have joined their parents at high-profile royal events like Trooping the Colour

Friends fear Autumn Phillips could take daughters Savannah and Isla to live in Canada after split in echoes of Prince Harry and Meghan Markle with Archie

Friends fear that Autumn Phillips could take her daughters to live in Canada following her split from husband Peter in echoes of Prince Harry and Meghan Markle with Archie. 

Autumn and Peter Phillips, who wed in 2008 after five years together, announced today that they separated several months ago but remain 'amicable' and will continue to co-parent their daughters, Savannah, nine, and Isla, seven

Friends fear that Autumn Phillips could take her daughters to live in Canada following her split from husband Peter in echoes of Prince Harry and Meghan Markle with Archie

Pictured, Prince Harry with his daughters on Christmas Day in 2018 

The divorce of grandson Peter Phillips from his much-loved wife Autumn is yet another blow in what has been a tumultuous 12 months for the Queen. 

Once again the Queen is facing more unrest within the Firm as the Royal Family adapts to Peter and Autumn's split

The Queen is thought to share a particularly good relationship with Autumn

Mrs Phillips joined the Queen at church in September last year and at the Braemar Highland Games in Scotland earlier that month. 

During the outing, thought to be the last time the Phillips were seen publicly together, Autumn was seen sharing a joke with Prince Charles and appeared particularly at ease with the Queen

The couple's divorce will be a huge personal loss to Her Majesty and have led some to think the Royal Family could be facing another difficult year, following what was dubbed the Queen's 'annus horribilis'

The year saw Prince Philip face a police probe over a car crash in Norfolk, Prince Harry acknowledge tensions in his relationship with his elder brother William, and Harry's wife Meghan admit she was struggling with her new life as a royal

The Queen assembled a team to help find a solution to satisfy the Sussexes, with Prince Harry remaining in the UK for the negotiations while Meghan Markle flew to Canada to reunite with son Archie.