The two teams are the following:
According to sources, Macquarie Group Ltd., and and Hong Kong-based CKI, had previously showed interest in the asset but they left the bidding process in early February.
The preferred bidder is expected to be announced on 31 March 2015, during Fortum's annual shareholders' meeting.
The transaction, which could be one of the biggest utility deals in 2015, is valued at about €6 billion (US$6.5 billion). Fortum has plans to use the funds to cut debt and focus on power generation and renewable energy.
In December 2013 the firm previously sold its distribution business in Finland to a group of investors led by First State Investments and Borealis Infrastructure for €2.55 billion (US$2.76 million).