Cohen, who is known for his movies like 'Borat', 'Bruno' and 'The Dictator', is teaming up with Paramount Pictures for the film, which is inspired by real-life story of a Hong Kong billionaire named Cecil Chao.
The richman offered USD 65 million to any man who would marry his homosexual daughter Gigi, reported Aceshowbiz.
Cecil recently grabbed international headlines after a French church reportedly blessed his daughter's relationship with her longtime girlfriend. The 76-year-old man himself has never married and is famously known for always dating much younger women.
"'The Lesbian' is conceived as a potential starring vehicle for Baron Cohen, who will produce through his Four By Two Films banner," the studio said in a statement.
The studio also states that no writers have been attached to the project.
Cohen teamed up with Paramount this summer on "The Dictator", which grossed USD 175 million worldwide.
