Billionaire Ronald Perelman finally reached a settlement in his custody and child-support battle with his ex-wife, Patricia Duff, yesterday.

Courts determined that Perelman will have sole custody of their daughter, Caleigh, but both parents will have equal time with her.

"This is in everyone's best interests," said Manhattan Supreme Court Justice Rosalyn Richter. She added praise for everyone who had been involved for doing "some very hard work emotionally."

The couple and their daughter will continue to see therapists, with additional joint sessions for the Perelman and Duff to work on parenting issues.

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