The star of the film The Devil Wears Prada was at the top of the producers’ wish list. Judy Craymer, who originally came up with the musical concept, explained, "She was always at the top of our wish list, and she encapsulates the spirit and energy and has the powerhouse qualities that character requires."
Although Streep has starred in several films and earned two Oscars, she has never starred in a musical.
Mamma Mia! includes 22 songs from the group ABBA, including Dancing Queen, Take a Chance on Me and The Winner Takes It All.
Filming on the project is expected to begin this year.