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The couple legally separated in September. Under Danish law, a divorce can only become final after a six-month separation.

The prince met Alexandra Manley while he was working for a Danish company in Hong Kong and married her in 1995. The princess was born and grew up in Hong Kong.

The couple plan to share custody of their two sons, Prince Nikolai and Prince Felix, the Royal Family said. Princess Alexandra's title will be reduced from "her royal highness" to "her highness."

Denmark's monarchy is believed to be the oldest in Europe. Joachim, now 35, lives at Schackenborg Manor, where he is a farmer, and is commander designate of a tank squadron in the Army Reserve.