Voltage Pictures and Robert Redford’s Wildwood Enterprises are rebooting their long-gestating political action thriller and announced on Tuesday [19] that the veteran actor will play opposite LaBeouf, riding high on the global success of Transformers: Dark Of The Moon.

Production is now set to kick off in Vancouver in September based on Lem Dobbs’ adapted screenplay of Neil Gordon’s 2003 novel. Dobbs wrote Haywire for Steven Soderbergh, which is set to open in January 2012 through Relativity.

Redford will direct and play a former political radical who goes on the run when an ambitious journalist tries to expose him.

The Company You Keep was originally set up at Fox Searchlight before Voltage and Wildwood took over. Voltage chief Nicolas Chartier took the project to Berlin in 2009 to drum up pre-sales ahead of a July start later that year.

Redford is producing with Bill Holderman and Chartier. Craig J Flores serves as executive producer.

Redford and LaBeouf are both represented by CAA.