Divestiture (noun)

1. The act of selling or disposing of an asset or investment.
2. The process of giving up ownership or control of a company, subsidiary, or asset.

Origin:

Derived from the latin word 'divestire' which means to strip off or take away.

Examples:

1. The divestiture of the company's non-core assets was necessary for its growth.
2. The divestiture of the subsidiary was a difficult but necessary decision for the parent company.
3. The divestiture of the stock portfolio was part of the investor's strategy to diversify his investments.
4. The divestiture of the land was the first step in the development of the new housing project.
5. The divestiture of the oil assets was a response to declining demand for oil.