La Vie en Rose director Olivier Dahan has signed on to direct Grace of Monaco for producer Pierre-Ange Le Pogam. We first reported on this project back in October, when Pierre-Ange Le Pogam acquired the screenplay by Arash Amel.

Grace of Monaco is a biopic centering on Grace Kelly, set in 1962 after her marriage to Prince Rainier III of Monaco. The story centers on how the new princess, after she had given up her Hollywood career, helped solve a dispute between Monaco and French leader Charles De Gaulle.

Pierre-Ange Le Pogam is fully financing the $15 million project, and it is said the producer has been meeting with several actresses to play Grace Kelly.

No production schedule was given for Grace of Monaco.

Cinemark Movie Club