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Ronnie and Jo Wood agree divorce settlement |
Ronnie Wood has reached an agreement with his ex-wife Jo as their divorce becomes finalised.
The Rolling Stone is set to hand over £5 million when the decree absolute is granted in the next few days, the Daily Mail reports.
Wood, who separated from his ex-wife in 2008, is said to be keeping their house in Ireland, while the other assets are being divided equally.
It is believed that the marriage broke up as a result of an affair Wood had with Ekaterina Ivanova, but their relationship came to an end in 2009.
Wood married Jo in 1985, seven years after they first met, and were husband and wife for 24 years before they separated, bringing up two children together, as well as two sons from each of their first marriages.
Last month, the Daily Express reported Wood as saying he was planning to meet with Jo to divide their finances amicably, adding "it's only material things after all".
Sue Bailey, a family solicitor at KCJ, adds: "The trend towards amicable divorces has been growing in recent years, particularly with the arrival of the Collaborative Law model. For the past two years, couples who are eligible for legal aid have been forced to consider mediation as a means of reaching agreement before going to court. Changes to the law which come into force in April will take this a stage further and make it compulsory for all couples to attend a mediation-awareness course before turning to the courts to resolve their differences. There is no doubt that couples who are able to reach agreement amicably save on their legal costs and usually emerge from the divorce process less emotionally exhausted than those who opt to go to court."
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