BBC Media Correspondent Nick Higham: "The couple have asked for privacy"

Lawyers for the couple spent Friday at the court in discussions with Family Division judge Mr Justice Connell after a planned hearing there was cancelled.

The marriage was declared null and void, after the couple agreed to accept their 1990 Hindu marriage in Bali was not valid under English law.

In a statement issued after a 12-minute private hearing, their lawyers insisted the couple would remain friends.

The statement read: "Mick Jagger and Jerry Hall have today amicably and formally agreed to separate after more than two decades as a couple and to obtain an annulment.

"A mutually acceptable legal and financial settlement has been reached, the details of which will remain confidential at the request of both parties."

Nick Higham: "They were one of the great celebrity couples"

The statement added: "Mick Jagger and Jerry Hall are determined that their friendship and mutual respect will endure.

"They will always be linked by the great shared love they have for their four children and their determination to both play their full part as parents to Elizabeth, James, Georgia May and Gabriel."

Court battle avoided

Jerry Hall: Already a millionaire from her modelling career

The settlement avoids a long and costly court battle, in which Ms Hall, 43, was reportedly seeking a £30m share of Jagger's wealth.

The couple met backstage at a Rolling Stones concert in 1977 when Hall was 20.

Their relationship started later, at a New York dinner party - even though Jagger, now 55, was still married to his first wife Bianca at the time. Hall had been in a relationship with Roxy Music singer Bryan Ferry.

They quickly became one of the world's most talked-about celebrity couples - but they did not marry until 1990, by which time Hall had given birth to to their first two children, Elizabeth and James.

But reports of Jagger's alleged infidelities dogged the relationship, ending with news late in 1998 that Brazillian model Luciana Morad was pregnant - reportedly with Jagger's child.

Hall - already a millionairess thanks to a successful modelling career - filed for divorce in January.

Despite this, the couple had recently been seen at social events together, sparking speculation that a reconciliation was in the air.