<p class="title">The bankrupt Philadelphia Energy Solutions is expected to sell its fire-damaged refinery site to real estate developer Hilco Redevelopment Partners, three sources familiar with the situation said on Tuesday.</p>.<p class="bodytext">The agreement between PES and Hilco, a Chicago-based developer, is expected to be announced later on Tuesday. PES and Hilco did not immediately respond to requests for comments.</p>.<p class="bodytext">The sale reduces the possibility that the more than 1,300-acre Philadelphia site would be resurrected as an oil refinery, but it is possible that Hilco could lease it to a refinery, biofuels or other heavy industrial operation, the sources said.</p>
<p class="title">The bankrupt Philadelphia Energy Solutions is expected to sell its fire-damaged refinery site to real estate developer Hilco Redevelopment Partners, three sources familiar with the situation said on Tuesday.</p>.<p class="bodytext">The agreement between PES and Hilco, a Chicago-based developer, is expected to be announced later on Tuesday. PES and Hilco did not immediately respond to requests for comments.</p>.<p class="bodytext">The sale reduces the possibility that the more than 1,300-acre Philadelphia site would be resurrected as an oil refinery, but it is possible that Hilco could lease it to a refinery, biofuels or other heavy industrial operation, the sources said.</p>