Infanta Cristina of Spain has split from her husband Inaki Urdangarin days after he was photographed holding hands with another woman.

The couple, who have been married for 24 years and share four children together, announced their separation in a brief statement, noting that they have taken the decision by "mutual accord," reports Royal Central. The statement which was signed by "Cristina de Borbon and Inaki Urdangarin read, "Our dedication to our children remains the same. Given that this is a private matter, we ask the utmost respect for all those involved."

The announcement comes after a picture published by Spanish magazine Lecturas on Wednesday showed Urdangarin on a walk with an unknown woman, who is allegedly his co-worker at the Imaz & Asociados law firm. A source claimed to Hola! magazine that Infanta Cristina, who was in Switzerland with their children at the time, wouldn't have been surprised with the picture as she "already knew" about her husband's relationship with the woman.

Meanwhile, Urdangarin told the press that "things happen" and the family would manage the situation "in the best possible way" with "the utmost calm and together as always."

The split comes after the couple went through some troublesome years in their marriage. The duo, who were given the titles Duke and Duchess of Palma de Mallorca on their marriage by Cristina's father, former King Juan Carlos, lost the ducal titles after corruption allegations cropped up against Urdangarin in 2011.

The former handball player was accused of diverting public funds to accounts in Belize and in the UK through his non-profit organisation, the Noos Institute. Infanta Cristina also faced trial for fraud over reports of irregularities in her husband's financial affairs, but was acquitted.

Urdangarin, however, was sentenced to six years and three months in prison in 2017 for embezzlement and money laundering in excess of £4.5 million through the charity. The sentence was reduced to five years and ten months of imprisonment in 2018, and he was granted permission to move to the Grade 3 Spanish prison regime in 2020. As per the new terms, Urdangarin has regained his freedom of movement and would only need to report to prison once a week.

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Princess Cristina at her wedding to Inaki Urdangarin in 1997. Reuters