Monaco's Prince Albert has wed South African Charlene Wittstock, turning the one-time Olympic swimmer into the Princess of Monaco.

The pair wed in a civil ceremony Friday in Monaco's medieval palace overlooking the tiny tax haven's main marina. They later celebrated at a buffet reception and all of the principality's more than 7,600 subjects were invited.

Monaco's citizens have long waited for the 53-year-old playboy bachelor to marry, fearing that the son of the late Prince Rainier and the American actress Grace Kelly may never tie the knot.

Prince Albert has acknowledged fathering two children out of wedlock and stories circulated in the last few days of a third. But the palace dismissed the tabloid articles as “ugly rumors.”

He met his bride during a 2000 swimming competition in Monaco. Wittstock, now 33, began appearing regularly at social events and moved to Monaco in 2006. Prince Albert has competed in five Winter Olympics as part of Monaco's bobsled team.

Wittstock wore a powder-blue Chanel jacket with ankle-length pants for the ceremony conducted by Philippe Narmino, the head of Monaco's state council. He told Wittstock she was bringing the “freshness of your youth, the richness of another culture and the modernity of your gaze” to the House of Grimaldi that has ruled Monaco since 1297.

The couple plans to say their vows a second time on Saturday in a Roman Catholic religious ceremony attended by fellow royals as well as stars from the worlds of showbusiness and fashion.

Three days of wedding festivities are expected to cost the principality $12 million.