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What does divestment mean?

Looking for the meaning or definition of the word divestment? Here's what it means.

Noun
  1. (finance) The sale or other disposal of some kind of asset.
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He estimates that at most two to five percent of tobacco shares have been sold through divestment.
Its packaging business has been closed, while the divestment of its glass container business is still being pursued, he said.
Reymond said that the agency would still pin its hopes primarily on proceeds from banks' divestment programs to meet the target.
The positive reaction associated with spin-offs and divestment can be viewed as evidence that the market rewards transparency.
Elsewhere, student and faculty petitions calling for divestment are perhaps one of the most visible signs of activism.
Igoe said a further divestment of assets was likely in order to consolidate the business and reduce debt.

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