Judy Craymer, who is reckoned to be worth 75 million from her film and stage hit based on Abba songs, will bring her magic touch to the show, which is tentatively titled Viva Forever.
A Spice Girls musical has been rumoured for a number of months after the band met up to discuss the project.
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Hide AdCraymer's previous hit has taken more than 1 billion at theatres, and the movie version of Mamma Mia! is the highest-grossing film ever released in the UK.