Magna, Sberbank notify EU of Opel takeover plan

A woman carries a bag of German car manufacturer Opel at the international car show ''IAA'' in Frankfurt in this September 17, 2009 file photo.

BRUSSELS (Reuters) - Magna International MGa.TO and Sberbank SBER03.MM have notified European Union antitrust regulators of their plan to buy General Motors Co's GM.UL European unit Opel, the European Commission said on Monday. The Commission, the EU competition watchdog, set a November 27 deadline for it to decide whether to approve the takeover, according to its daily list of planned mergers under review.

GM's board of directors will decide at a regular meeting on November 3 whether to proceed with the deal to sell Opel to Canadian auto parts supplier Magna and Russian state-owned lender Sberbank.

The delay in closing the sale came after the Commission asked GM to confirm its decision knowing that 4.5 billion euros ($6.75 billion) in state aid promised by Germany would go to any buyer of Opel and not just Berlin's favored bidder, Magna.

GM could withdraw its notification to EU regulators if it changes its mind. Companies usually brief the Commission after concluding a deal or announcing a public bid, or to show intent to carry out a takeover.

(Reporting by Foo Yun Chee; Editing by Dale Hudson)