The divorce settlement between ex-premier Silvio Berlusconi and his second wife Veronica Lario has been revealed by an Italian newspaper saying Berlusconi has been mandated to a monthly alimony of €3 million but gets to keep their estate.

Reports further say that all paperwork was filed Christmas Day at Milan’s tribunal.

Lario decided to go her separate way in 2009 saying his unflinching desire for younger women as reason for the divorce.

The billionaire media mogul and Lario met in 1980 after her performance which Berlusconi saw in a Milan theatre in a dressing room and they decided to tie the knot in 1990.

The 76-year-old Berlusconi is currently dating a woman nearly 50 years his junior.