Vancouver Canucks co-owner Francesco Aquilini has reached a settlement with his estranged wife Taliah, according to The Vancouver Sun.

The settlement marks the end of the couple’s 16-year marriage. Although the couple separated in 2011, they remained divided on the custody of their children and the division of assets. Those assets include vacation properties and Francesco’s ownership shares in the Aquilini Investment Group.

Francesco is one of five partners in the Aquilini Investment Group, a holding company that controls a network of corporations and business interests worth hundreds of millions of dollars.

The investment group owns the following businesses:

  • The Canucks franchise, which was bought from Seattle businessman John McCaw in 2004 for more than $250 million.
  • Aquilini Development and Construction, which is behind several condo developments in Vancouver and elsewhere.
  • Golden Eagle Group, which controls a sprawling section of agricultural land in Pitt Meadows, east of Vancouver, that is home to a golf course, tree nursery, blueberry farm and cranberry farm.

The actual value of the company is not known because private corporations aren’t required to disclose its financial records.

Aquilini, wanting to protect his family’s financial interests and also to protect his five children, had also asked for a publication ban on the court proceedings last week. As one of British Columbia’s wealthiest families, reporters were anticipating for weeks to get details about the couple’s case.

Earlier this year, Taliah made requests to force the sale of a wine collection to cover her legal expenses. She also asked for an order giving her access to vacation properties, hockey tickets and other perks associated with the Canucks. Both requests were rejected by the judge.

Taliah also made allegations of adultery as grounds for divorce and wanted the court to question Francesco about those allegations during pre-trial discovery, however, the allegations were kept out of the case. A judge concluded that because the couple’s year long separation was enough to grant the divorce, there was no need to hear about any alleged infidelity.

Francesco and Taliah Aquilini were married in 1994, but they have been separated since January 2011. They have four children together, while Francesco has a fifth child from a previous marriage.

The four children from the Aquilinis’ marriage currently live with Taliah in the couple’s matrimonial home. Although there is no formal order for child or spousal support, Francesco deposits money into a joint bank account each month to cover living costs for his estranged wife and their children, according to a previous court decision.