Separates as a result of princess's wild sprees (9)
I believe the answer is:
disperses
'separates' is the definition.
(dispersing is a kind of separating)
'princess's wild sprees' is the wordplay.
'princess's' becomes 'Di's' (Princess Diana).
'wild' indicates an anagram.
'sprees' anagrammed gives 'perses'.
'dis'+'perses'='DISPERSES'
'as a result of' is the link.
(Other definitions for disperses that I've seen before include "Fades away" , "Distribute loosely, scatters" .)