The real-life story centres on Jewish Mossad agent Wolfgang Lotz who became addicted to his covert identity as an ex-Nazi playboy and millionaire horse breeder in Cairo in the 1960s.
Collina's general manager Ulrich Limmer, who will produce the film, has owned the rights to The Champagne Spy novel since the mid-1990s.
The Israeli-German documentary won four awards at the Israeli Documentary Forum earlier this week, as well as the Jury Award at the DocAviv International Documentary Film Festival in Tel Aviv last March.
It received its North American premiere at the Seattle International Film Festival recently and plays at the Los Angeles Film Festival this weekend.
'Schirman's fascinating documentary showed us he really understands the characters and the period and definitely has strong story telling skills,' Limmer said. 'We are very excited to move forward with this screenplay after so many years of gestation.'