Li Yang, founder of the Crazy English education company in Beijing, has withdrawn an appeal against his divorce settlement.

He told China Central Television on Tuesday he has reached an agreement with his American ex-wife, Kim Lee, and her lawyer.

Li's attorney told Chaoyang District's People Court on Monday that Li was dropping his case, CCTV reported.

The businessman lodged an appeal on Feb 18, accusing Lee of domestic abuse. He said he disagreed with the verdict of the presiding judge, who upheld Lee's earlier claims that she had been a victim of domestic violence, and with the compensation she was awarded.

In the withdrawn appeal, he had also sought custody of the couple's three daughters, and said he hoped a higher court would distribute their properties according to the law.