FRANKFURT, Germany — German discount fashion retailer NKD has been put up for sale as its private equity owner OpCapita hopes to benefit from high equity valuations, people close to the matter said.

The investor has asked Goldman Sachs to find a buyer for the company, which is expected to post earnings before interest, tax, depreciation and amortisation of about €40 million (£35 million pounds) and may be valued at €300-350 million in a potential deal, they added.

OpCapita and Goldman Sachs declined to comment.

NKD operates about 1,800 stores mostly in smaller cities in Germany and Austria and employs about 8,000 staff. In 2016, it posted sales of 680 million euros.

The company is competing for investor attention with larger peer Takko, which Apax Partners is currently presenting to potential buyers as it considers financing options for the company.

A stock market flotation of Takko, initially considered for the second quarter, is currently not seen as the most likely option, people familiar with the matter said.

Apax was not immediately available for comment.

By: Arno Schuetze; editors: Christoph Steitz and Alexandra Hudson.