A statement was issued on behalf of Phillips and is Canadian wife Autumn confirmed the pair are divorcing.
Peter is the son of Princess Anne and has two children – nine-year-old Savannah and seven-year-old Isla.
The full statement read: “After informing HM The Queen and members of both families last year, Peter and Autumn jointly agreed to separate.
“They had reached the conclusion that this was the best course of action for their two children and ongoing friendship.
“The decision to divorce and share custody came about after many months of discussions and although sad, is an amicable one.
“The couple’s first priority will remain the continued wellbeing and upbringing of their wonderful daughters Savannah (nine) and Isla (seven).
“Both families were naturally sad at the announcement, but fully supportive of Peter and Autumn in the joint decision to co-parent their children.
“Both Peter and Autumn have remained in Gloucestershire to bring up their two children where they have been settled for a number of years.”
Phillips will be the first of the Queen’s grandchildren to legally split.
