(countable and uncountable, plural privatizations)
Coined by Sidney Merlin in 1943 though aware of earlier reprivatization.
The process of converting a government-operated business to one that is privately owned. Privatization occurs by selling shares in the government-owned business to private shareholders such as individuals and institutional investors. During the 1980s and 1990s, governments throughout the world raised billions of dollars by privatizing companies.