Couple have settled proceedings

Nearly five months since filing for divorce, Britney Spears and Kevin Federline have reached a settlement.

The 24-year-old singer came to an agreement with her ex-husband after a five-hour meeting at a Los Angeles court with their lawyers present.

The pair have now agreed joint custody of their two sons, 18-month-old Sean Preston and Jayden James, six months.

‘The parties signed a global settlement on all issues of their marriage and the custody of the children,’ a spokesperson for Kevin, 29, told People magazine.

The couple, who wed in September 2004, separated last November, citing irreconcilable differences.

Britney recently completed a stint in rehab after she shocked the world by shaving her head.