Changing something from state to private ownership or control WordNet 3.0 & Open English WordNet

Privatization can mean several different things, most commonly referring to moving something from the public sector into the private sector. Wikipedia

Transferring something from the public sphere to the private Wikidata

The transfer of ownership or control of a government enterprise or other governmental property to a non-public, non-official company, organization or individual, either through sale or through the establishment of a special enterprise outside direct government control. OmegaWiki

The act or process of denationalizing, of removing from government control. Wiktionary

The transfer of a company or organization from government to private ownership and control. Wiktionary

Transfer from the government to private ownership. Wiktionary (translation)