German term (edited): Verselb(st)ständigung

I agree with Swisstell...

..and separation is part of a spin-off process
but I think that you could possibly call it

"separation (process)" if you want to distinguish between the actual act of separating (Verselbständigung) and (trade) sale (Veräußerung)

or: through the separation- and sale process

separation in the sense of
a group becoming (more or less) independent, a separate legal entity, a stand-alone business.
http://www.investor.bayer.com/1269_grndeundziele/grndeundzie...

Veräußerung - sale (disposal)/sale process
http://www.dbwnet.de/Archiv/Artikel/05050004.htm

http://www.corporate-spin-offs.com/forum/forum.htm
separation process (after spin-off decision)


-----------------or a separation as in a management buyout is often referred to as "hive off":
http://www.bov.de/fileadmin/downloads/ir/finanzberichte/2002...

http://www.dai.de/internet/dai/dai-2-0.nsf/LookupDL/25EDDC9A...$File/FP_02_2005.pdf
enables parts of the company to be hived off






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Note added at 5 hrs (2006-10-31 08:01:55 GMT)
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sorry - it should be Swiss Tell

instead of having one single company handling everything from freight to passenger operations and beyond, the freight "arm" is being separated out - made into a separate operation - with a view to selling off: the so-called liberalisation of the maket ....
Think of the way the old BR has been split up and sold off in the UK. Need I say more?

"Sectorisation" was the word used when BR was broken up into some 200-odd companies (and weren't some of them odd too...) in the 1980s. So possibly sectorisation and disposal(s)?