privatepri·vate /ˈpraɪvət/ adjectiveadj [only before a noun]1private property, businesses, activities etc are owned or paid for by people and companies, rather than the governmentThey transferred ownership of thousands of companies from the state to the private sector (=the part of the economy not owned by the government).
Investment bankers say that private money should be used for new municipal projects.
private property
private pensions
—privately adverbadvJoe Sims, a former Justice Department lawyer who now practices privately
a privately run prison
privately operated toll roads
2FINANCE involving something that is sold directly to people or organizations, without being offered openly for anyone to buyThe company has raised $50 million in a private placement arranged by Kemper Financial Services.
Goldman will seek new sources of capital through a private investment offering.
a private sale of 70 million shares, to be offered to investment institutions at A$2.55 each
—privately adverbadvThe banks will privately place the shares with individual investors.
He will decide which of his paintings will be sold privately and which works will be sold at auction.
3in private hands not belonging to the governmentSlovak officials approved proposals to put 200 companies in private hands.
4in private hands belonging to a member of the public rather than to an organizationThere are more than 100 million handguns in private hands in the US.
5go private (also turn private) if a government-owned organization goes or turns private, it is sold to investorsIberia Airlines will be ready to go private next year.
Poland’s remaining state enterprises have put forward plans to turn private.
6go private British EnglishBrE to pay for medical treatment instead of getting it free at a public hospital
7a private company does not make its shares available for anyone to buy on a stockmarketCargill, the largest private company in the US, wants to stay that way. Says Mr West, a vice president: ‘We’ll go public (=sell shares on the stockmarket) the week after snowballs form in hell.’
—privately adverbadvCortisol Medical Research Inc., a privately-held (=privately-owned) drug manufacturer
a privately-funded research program
8go private if a company with shares on the stockmarket goes private, its owners buy back those shares from existing shareholders so that it becomes privately ownedThe majority of companies that went private in the last few years will become public again by reselling stock.
9take a company private if a company’s owners take it private, they buy back all shares from existing shareholdersThe company’s chairman plans to take the company private through a buy-out of the 74% of shares he doesn’t already own.
10only for use by one particular person or group, not for everyonea private road
private accommodation
11a private meeting, agreement, conversation etc involves only a small number of people and is kept secretMr. Miscio rose to protest, saying ‘This is a private meeting’.
The visit was preceded by a private audience (=a meeting with someone important) for the chairmen.
—privately adverbadvHe and his lawyers will be permitted to meet privately at the Oakland jail.