03/28/2008 02:45 am ET Updated May 25, 2011

Report: McCartney Agrees To $100+ Million Payout

Sir Paul McCartney is said to have agreed to a historic divorce settlement which will see Heather Mills walk away with a record £55million, the Daily Mail can reveal.

Miss Mills, 40, is to receive a £20million lump sum with further £2.5million annual payments until their four-year-old daughter Beatrice reaches 18.

She could not contain her joy as she walked from the High Court in London smiling broadly yesterday.

As part of the deal, which was predicted in the Daily Mail last week, Miss Mills has agreed to be bound by a confidentiality order which means she will never be able to speak publicly or write in detail about the breakdown of the four-year marriage.

The estranged couple have faced each other over five days at the High Court this week.

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Previously: McCartney divorce battle looks headed for week two.