Chinese actor Nicholas Tse and actress Cecilia Cheung have officially split. [Photo//nf.nfdaily.cn/nddaily.com]

Chinese actor Nicholas Tse and actress Cecilia Cheung have officially announced their divorce in a joint statement released through their managers.

The statement indicated that the two will have joint custody of their two sons Lucas and Quintus, but did not disclose any details on how the couple's assets would be divided.

The issuing of the statement has put an end to the marital crisis that has troubled the duo for nearly three months.

According to Hong Kong media, Deborah Lee, Tse's mother, said she respected the pair's decision, while Patrick Tse, Tse's father, was regretful for the split.

Although the statement did not offer specific details of the agreement, Hong Kong media reported on Aug 23 that the agreement was reached on Aug 19 and that Cheung gave up her entitled assets in order to continue to live with her sons.

In turn, the sum will be evenly divided between the boys at roughly 150 million RMB (about $23 million) each.

Earlier reports stated that Cheung had the intention to “squeeze the Tses clean” through the divorce. However, in the end, Cheung chose her sons over the sum and decided to forego her entitlement.

The 300 million RMB (roughly $45 million) to be evenly divided to Lucas and Quintus will be frozen in funds until the boys turn 18.

Since the two parties share joint custody over the boys, Nicholas Tse and his family and relatives have the right to visit Lucas and Quintus at free will.

The agreement also stated that a monthly alimony payment of 100,000 HKD (about $13,000) will be given to Cheung by Tse.