pri·vat·ize also Brit pri·vat·ise 
/ˈpraɪvəˌtaɪz/ verb
pri·vat·iz·es; pri·vat·ized; pri·vat·iz·ing /ˈpraɪvəˌtaɪz/ verb [+ obj] : to remove (something) from government control and place it in private control or ownership
▪ The city decided to privatize the municipal power company. ▪ a proposal to privatize the health-care system — opposite nationalize
▪ The city decided to privatize the municipal power company. ▪ a proposal to privatize the health-care system — opposite nationalize
— pri·vat·i·za·tion also Brit pri·vat·i·sa·tion /ˌpraɪvətəˈzeɪʃən, Brit ˌpraɪvəˌtaɪˈzeɪʃən/ noun [noncount]
▪ the privatization of health care
/ˌpraɪvətəˈzeɪʃən, Brit ˌpraɪvəˌtaɪˈzeɪʃən/ noun [noncount] ▪ the privatization of health care
