Protagonist is handling international sales on the film, which is likely to liven up this week’s American Film Market.
The Full Monty's Uberto Pasolini will produce with Simon Fuller of 19 Entertainment acting as executive producer.
The shoot is set to begin in February in London and Budapest.
Donnellan and Ormerod will make their feature debut with the story about a young man's rise to the top of Parisian high society in the 1890s, via the beds of the city's most glamorous and influential women.
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