C1 noun ˌpraɪ.vɪ.taɪˈzeɪ.ʃən
privatization
Privatisierung
Meaning
The transfer of a business, industry, or service from public to private ownership and control.
Example
The privatization of state-owned companies increased efficiency.
Die Privatisierung staatlicher Unternehmen erhöhte die Effizienz.