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English definition of “privatize”

privatize

verb [T]  /ˈprɑɪ·vəˌtɑɪz/ us  

privatize verb [T] (MAKE INDEPENDENT)

social studies (of an industry, company, or service) to change from being owned by a government to being owned and controlled independently
privatization
noun [U]  /ˌprɑɪ·vət̬·əˈzeɪ·ʃən/ us  
the privatization of the British steel industry
(Definition of privatize from the Cambridge Academic Content Dictionary © Cambridge University Press)
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