No war of the Spanish Succession - partition of the empire

What if the Bourbons and the Habsburgs came to an agreement, accepting the project division of the Spanish empire proposed by William of Orange? According to this proposal, France would fall to the Italian possessions of the Spanish Habsburgs, and the rest of the Archduke Charles, younger son of Emperor Leopold I. But Charles give up the claim to the inheritance of his brother, who at the time of death in 1713 he had only two young daughters? Is their subsequent marriage with sons Electors of Bavaria and Saxon have been undertaken? Or maybe one of them was married to Louis XV?
 
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