Summit Entertainment has picked up worldwide rights to The Impossible, based on a true story during the 2004 tsunami in Thailand, starring Naomi Watts and Ewan McGregor.

According to Variety, Warner Bros. has distribution rights in Spain for the pic, co-produced by Spanish production companies Apaches Entertainment and Telecino Cinema.

Juan Antonio Bayona will direct from a script by Sergio G. Sánchez.

Summit, which announced the project Sunday, will release the film in the U.S. It will be selling international markets outside North America (excluding Spain) at Cannes.

Production will begin in August in Alicante, Spain, and move to Thailand in October.