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UK's Princess Beatrice engaged to real estate entrepreneur

There's another royal wedding on the way!

LONDON, UK — Prince Andrew and his former wife Sarah Ferguson have announced the engagement of their elder daughter, Princess Beatrice.

They said Thursday that Beatrice is engaged to Edoardo Mapelli Mozzi, a real estate entrepreneur. The 31-year-old princess is a granddaughter of Queen Elizabeth II.

Buckingham Palace says the couple became engaged in Italy earlier this month. The wedding will take place in 2020.

"We are both so excited to be embarking on this life adventure together and can't wait to actually be married," the couple said.

Credit: AP
This undated photo released by Buckingham Palace shows Britain's Princess Beatrice and Edoardo Mapelli Mozzi, in Italy.

Andrew and Sarah, who remain on very good terms despite their 1996 divorce, said in a statement they are "thrilled" with the engagement.

"We send them every good wish for a wonderful family future," they said.

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They said they are "the lucky parents of a wonderful daughter who has found her love and companion in a completely devoted friend and loyal young man."

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Their younger daughter, Princess Eugenie, married Jack Brooksbank last year.

Princess Beatrice shared the news on Twitter as well, posting that she was "so excited to announce my engagement to Edo."