There have been some incidents with Russian modules and spacecraft over the years demonstrating the gradual decline in their capability, but so far it hasn't be

There have been some incidents with Russian modules and spacecraft over the years demonstrating the gradual decline in their capability, but so far it hasn't been determined to br worth the effort of figuring out if the sides can even be disconnected anymore. The talk about private space stations isn't really about privatizing the existing ISS. There are private trips to there every once in a while (required to be led by any former astronaut at the ISS though). Besides that maybe you're thinking of Axiom's space station, which is intended to have modules docking to the American side of the station and gradually building off of it until their modules can handle being independent, at which point the ISS modules would be disconnected and deorbited, leaving their private space station on its own.