Complex sentence: Producer Mike Lobell saw the original film at its London premiere in 1966, and in 1997, Lobell, who was then working at Universal, was looking for a film to remake; he suggested "Gambit" and Universal approved it.
Split into simpler sentences: Producer Mike Lobell saw the original film at its London premiere in 1966. Several years later in 1997, Lobell, who was then working at Universal, was looking for a film to remake; he suggested "Gambit" and Universal approved it.