Lord Northampton has agreed to pay his wife a £17 million divorce settlement, the Sunday Telegraph has reported.
The newspaper said the Lord, who lives in a stately home in Warwickshire, had agreed the settlement with his fifth wife, Lady Pamela, following a two year legal battle and just one day before a divorce trial was due to start in the High Court.
Lord Northampton’s solicitor, Simon Bruce, told the broadsheet: “We are pleased to confirm that the case has now been settled without the need for further court proceedings.
“Under the terms of the parties’ agreements there will be no further comment.”
It is believed Lady Northampton will receive a £4 million London apartment and cash and possessions worth about £13 million.
The majority of Lord Northampton’s estate, worth an estimated £120 million, will however remain intact.
Lord Northampton married four times between 1967 and 1988, with all four marriages ending in divorce.
His latest marriage has lasted more than 20 years.