ROME (Reuters) - Finmeccanica (>> Finmeccanica SpA) has shortlisted China's CNR Corporation (>> China CNR Corp Ltd) and Hitachi (>> Hitachi, Ltd.) of Japan to buy its rail assets but binding offers have not yet been presented, Chief Executive Mauro Moretti said on Tuesday in a parliamentary hearing.

The disposal of its unprofitable train-making unit Ansaldo Breda and of its rail technology subsidiary Ansaldo STS (>> Ansaldo STS SpA) are part of a plan by the Italian industrial group to cut debt of 4.8 billion euros (3.82 billion pounds) and focus on its core aerospace and defence business.

Speaking to reporters on the sidelines of testimony to the Senate industry, Moretti said the board would meet on Oct. 27 but added it was unlikely to examine binding offers on that occasion.

Once the sale is completed the group will be able to focus on a restructuring plan which aims to bring its six main subsidiaries under the wing of the main holding company.

Two sources with knowledge of the matter said the restructuring would be completed by the end of 2015.

The sources said it was too early to tell the exact shape the new group will take, but that the separate companies covering the helicopters, electronic defence, space, aviation, defence systems and transport sectors will become divisions of the main holding.

Moretti said the group, which is 32-percent owned by the Italian government, hoped to return to paying dividends in about two years.

He also said Finmeccanica was unhappy with its jet joint venture with Sukhoi and was rethinking the seven-year-long partnership with the Russian manufacturer, echoing comments by his predecessor Alessandro Pansa.

Superjet International, which makes Superjet 100 jets, was formed in 2007 and is majority owned by Finmeccanica's Alenia Aermacchi unit alongside Sukhoi, part of Russia's state-owned United Aircraft Corporation (UAC).

(Reporting by Paolo Biondi; writing by Steve Scherer, additional reporting by Danilo Masoni and Oleg Vukmanovic; editing by Keiron Henderson)