Tom Cruise & Katie Holmes Divorce: Amicable Settlement

Super Star Tom Cruise and actress Katie Holmes have reached a divorce settlement late Monday afternoon. According to CNN the couple of six years reached a settlement on amicable terms.

The public held their breath not knowing whether the Cruise-Holmes divorce will result in another Hollywood break-up spectacle especially since Holmes had filed for full custody of their six year old daughter Suri.

Jonathan Wolfe, the 33-year-old actress' lawyer commended Curise's lawyers "for their professionalism and diligence that helped bring about this speedy resolution," as reported on CNN News.

The terms of settlement have not been disclosed. Attorneys from both teams dismiss revealing any details iterating that the matter is purely confidential. Cruise's team has released a statement denying any truth to media speculation regarding the settlement, saying that "There are numerous inaccuracies in the reports regarding the purported contents of the agreement reached between the parties," as reported by CNN Entertainment.

On June 28, Holmes, 33, filed for divorce from 50 year-old super star in a New York court, seeking full custody of their daughter.

NBC's Access Hollywood reported that Cruise's affiliation with scientology religion was a motivating factor in Holmes decision to file for sole custody, which if granted will give her complete authority of making decisions for Suri.

The fact that Holmes filed for divorce in New York is no accident either. It is a strategic decision, since she is likely to win the custody suit in NY rather than California, which by default assumes joint-custody in a divorce.

The couple, who is reported to have a pre-nuptial agreement, is said to be worth $275 million, most of which is earned by Cruise. According to Good Morning America, last year Cruise made around $75 million, while Holmes only $25 million in comparison.

After proclaiming his love for Holmes on that epic coach moment on "The Oprah Winfrey Show" in 2005, the couple announced in April 2006 that Holmes was pregnant, which was followed by a grand wedding in Italy in November of the same year.

Aside from Suri, 6, Cruise has two adopted children, Bella and Connor, with ex-wife Nicole Kidman.

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