TLA is co-producing the film with Wide Management and Triskel Film and acquired rights from Wide to line up a 2008 theatrical release.
Hormoz makes his feature directorial debut based on his short film about a man's carnal adventures through the northern suburbs of Paris. Hubert Benhamdine and Christine Boisson star.
'I Dreamt Under Water represents the unique qualities of French cinema to tell a fresh story,' TLA's Jennifer Arndt-Johns, who negotiated the deal with WIDE's manager Loic Magneron, said.
'We know the film's themes of tolerance and self-discovery will resonate with today's contemporary audiences.'
'The partnership of all three companies, represents the internationally universal appeal of the film, which is tolerance of all aspects of love,' Magneron said.