Katie Price agreed to a truce with Peter Andre for the sake of their children

A source told The Sun: "Pete's team have been begging Katie to end this for good for months. As far back as November, they were calling Katie and her family to try to end the row.

"She was resolute she wouldn't make peace with him. It was the children who made her realise she needed to draw a line in the sand. Katie has done this for them."

The pair announced the new chapter in a joint statement on Instagram, where they said: "Katie Price and Peter Andre have decided to close the door on the past and move forward into a new chapter with positivity and respect.

"We are both focused on creating a calm and supportive environment for our children.

"We have reached a mutual agreement, both legally and personally, confirming that neither of us will speak negatively about the other going forward.

"This decision reflects a shared commitment to our family and stability.

"We want to stand united for our children. We are hoping this is a start of a positive relationship.

"We ask for understanding and support from both the media and the public as we move ahead."

Last summer, Peter hit out at Katie in a statement in which he claimed Junior and Princess lived with him for "their safety" and admitted staying silent on their personal situation has been "frustrating" over the years.

In the message posted on Instagram, he explained: "For sixteen years, I have stayed silent in the face of repeated lies from my ex-wife and her family, out of respect for my children and loved ones, but staying silent has been incredibly frustrating.

"That ends today. The latest comments about my children's welfare and living arrangements compel me to set the record straight. For well-documented reasons, and for their safety, Junior and Princess came into my care in 2018 and remained with me until they reached adulthood.

"In 2019, the family courts issued a legally binding order to enforce this arrangement. I have never made this public before, out of respect for my children. In 2011 and 2015, publicly documented court cases, found my ex-wife had made false claims. She was ordered to pay substantial damages and legal costs, and to apologise, to me and my management. The same falsehoods are being repeated today."

Peter went on to add: "Unfortunately, there are many more lies and baseless accusations I have yet to address. Those will now be dealt with in the coming months."

A spokesperson for Katie told the Mirror newspaper: "Kate is in a much better and clear headspace and is at peace with the situation, this was in the past and she doesn't feel the need to bring up tit for tat comments, but more importantly she's dealing with this the right way and it's now in her lawyers hands. Kate will no longer be gaslight and bullied as she once was."