Divestitures Sell-off: selling a firms subsidiary or division to another company Spin-off: separating a subsidiary from its parent company, with no change in equity ownership The parent firm no longer has control over the subsidiary.Divestitures • Sell-off: selling a firm’s subsidiary or division to another company. • Spin-off: separating a subsidiary from its parent company, with no change in equity ownership. The parent firm no longer has control over the subsidiary