LONDON — Paramount Pictures U.K. has snapped up U.K. distribution rights to Clive Owen and Andrea Riseborough starrer “Shadow Dancer.”

Pic, a BBC Films co-production with Unanimous Entertainment and Element Pictures, is directed by “Man on Wire” helmer James Marsh.

Gaul’s Wild Bunch will handle international sales for the project, which Variety first reported about (Daily Variety, Nov. 8, 2010), and will shop it to buyers at next week’s Cannes Film Festival.

Story, penned by Tom Brady who wrote the original tome of the same name, follows the tale of a young woman, a former IRA terrorist, who turns into an informer for Blighty’s MI5 and is forced to reveal her past if she wishes to see her children again.

Unanimous’ Chris Coen will produce alongside Element’s Andrew Lowe and Ed Guiney, while BBC Films’ Joe Oppenheimer will exec produce.

Script for the feature was featured in the fourth annual Brit List of hot screenplays in Blighty, which lists the best unproduced screenplays in the U.K. and Ireland.

Pic is financed by BBC Films, the now shuttered U.K. Film Council, the Irish Film Board, post-production house Lip Sync and Paramount Pictures.

Lensing is skedded to begin in Dublin at the end of May.

Owen is also starring in financial thriller “Cities,” helmed by Roger Donaldson, which Lisa Wilson’s Parlay Films is commencing pre-sales on in Cannes.

Riseborough recently finished filming Madonna’s second directorial effort “W.E.,” which Stuart Ford’s IM Global is continuing to shop to buyers at Cannes after healthy sales in Berlin in February.