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Rumour : Madonna and Guy reach divorce settlement

The celebrity couple have managed to avoid a Mills-McCartney style circus in the courts by agreeing terms on finances and the custody of their children.

A notice of their decree nisi will be published in the Registry of the Family Division in London on Friday and a formal announcement from the couple is also expected.

Madonna will keep all of her L300 million fortune after Ritchie – said to be worth L30 million – said he did not want any of her money.

Legally, he could have been entitled to half of the wealth earned during their seven and a half year marriage, which is estimated to be L120 million, and reportedly rejected a L20million offer.

The biggest concern was the children, with both parents wanting the two boys to live with them.

But the couple will share custody of their sons, eight-year-old Rocco and three-year-old adopted David, who will divide their time between New York with their mother and London with their father.

Madonna’s 12-year-old daughter Lourdes, from a previous relationship, will live in America with her mother.

Under the details hammered out by the couple’s lawyers, it is understood that Ritchie will keep the couple’s 1,200 acre estate in Wiltshire – reputed to be worth L12 million – and the Punchbowl Pub in Mayfair.

Madonna hired Fiona Shackleton, who represented Sir Paul McCartney in his acrimonious split from Heather Mills, while Ritchie took on Lady Helen Ward.

He also hired Stephen Cobb, QC, one of Britain’s top children’s lawyers.

source : telegraph