` Guntars Zīle | COBALT

Guntars Zīle

Partner / Latvia


Guntars Zīle is head of the M&A practice group. He has more than 18 years of experience in transactional work and has represented numerous local, as well as multinational companies and PE funds (like East Capital, BaltCap, Stora Enso, Lukoil, Severstal, AXA Private Equity, Carlsberg, MISC Berhad, etc) in large scale M&A transactions. Guntars also handles patent litigation assignments and performs regulatory work for manufacturers of the pharmaceuticals and healthcare service providers. He also has extensive experience in real estate and construction law matters and currently acts as a member of the Working Group of the Ministry of Justice for the Law Reform on Divided Property Matters.


  • Corporate/Commercial – Band 2, Chambers Global and Europe 2024
  • Commercial, Corporate and M&A – The Legal 500 Hall of Fame 2024
  • M&A – Highly regarded, IFLR 1000 2023


  • Latvian, English, Russian

Membership & education

  • Latvian Bar Association (since 1999)
  • International Bar Association (since 2007)
  • International Association for the Protection of Intellectual Property (since 2011)
  • Riga TechHub Founder Member (2012)
  • Legal advisor to the board, Latvian Private Equity and Venture Capital Association (since 2021)
  • LL.M., University of Latvia, Faculty of Law (2001)
  • LL.B., University of Latvia, Faculty of Law (1999)

    Marguerite sells its stake in Latvijas Gāze

    BaltCap and Draugiem Capital to acquire majority in Pepi Rer, developer of the IGLU brand

    COBALT advises the majority shareholder of AS TOODE, Amber Trust II S.C.A. in the sale of its shares to Kingspan Group

    Following the final share buy-back, BaltCap becomes the sole shareholder of HansaMatrix

    BaltCap expands its reach in Latvia’s social sector by acquiring an elderly care operator

    One of the world’s leading betting and gaming companies sells its Latvian business

    The majority shareholder of Hansab sells its majority stake to BaltCap

    COBALT advises on the sale of HKScan’s Baltic business to AS Maag Grupp

    COBALT advises BaltCap with entering the Latvian social and healthcare sector

    COBALT advises BaltCap, Imprimatur Capital and other shareholders with exit sale of Blue Bridge Technologies

    COBALT advised LHV Asset Management and LHV pension funds on the financing of Dimedium Group deal

    COBALT advises BaltCap with exit sale of Vendon SIA

    COBALT advises MEKO on the acquisition of Koivunen

    COBALT advises BaltCap on sale of Uprent Group

    COBALT advised IBM on reorganization for separation of Kyndryl regarding Baltic jurisdictions

    COBALT advises Altum investment fund in financing Primekss

    COBALT advises BaltCap Infrastructure Fund on sale of biomass CHP in Riga

    COBALT advised European Lingerie Group on raising a 27-million euro loan and investment

    COBALT advised Mid Europa Partners on acquisition of leading Baltics e-commerce platforms

    COBALT advised Levine Leichtman Capital Partners on acquiring Creditinfo

    COBALT advised BaltCap on acquiring Baltic Ticket Holdings

    COBALT advises Entain in the public takeover offer for Enlabs AB

    COBALT advises Flügger on gaining the majority stake in Eskaro group

    COBALT advises airBaltic on EUR 250 million investment in the company’s share capital by the Latvian government

    Marguerite Fund has closed AS Conexus Baltic Grid share sale transaction

    COBALT advises Coffee Address Holding in acquisition of SIA Kafe Serviss

    COBALT provided legal support to TELUS Corporation in acquisition of Competence Call Center

    COBALT advises Marguerite Fund on the sale process of 29.06% stake in Conexus Baltic Grid

    COBALT advised STADA Arzneimittel on the acquisition of Walmark

    COBALT advised funds advised by Apax Partners on acquiring the Baltic Classifieds Group

    COBALT advises BaltCap on selling Fitek

    COBALT advised Vink Nordic Holding ApS on acquiring Proplastik

    COBALT advises BaltCap Infrastructure Fund in acquisition of biomass CHP in the Riga region

    COBALT advised Kartesia on its investment in Groglass®

    COBALT advises on the sale of Runway BPO to Webhelp

    COBALT advised Bisnode on the acquisition of Datu Serviss

    COBALT advised Marguerite Fund in the reorganisation process of AS Latvijas Gāze

    COBALT advised Korona Invest Fund in an investment to the digital agency Wunder

    COBALT advises AFI Europe Latvia on large-scale residential development project in Riga

    COBALT advises BaltCap in acquiring of Selecta business operations in the Baltics

    COBALT advises Marguerite Fund in the acquisition of a 28.97% stake in AS Latvijas Gaze

    COBALT advises Mid Europa Partners on its sale of Bite

    COBALT advises BaltCap in acquiring Baltic operations of financial automation company OpusCapita

    COBALT advises ELKO Group in acquisition of DL Distributors OÜ

    COBALT advises Gjensidige Forsikring ASA in acquisition of PZU Lietuva

    COBALT advises Solvina in SIA Storent Holding share sale transaction

    COBALT in cooperation with Linklaters advises Latvian Privatization Agency in the sale of Citadele Bank to international investors

    COBALT advises ABLV Private Equity in a successful exit from SIA Depo DIY

    COBALT advises Polyplastic Group in acquisition of a polymer pipe production company SIA Evopipes

    COBALT advises Latvian tech startup Cobook and its founders in acquisition by U.S. company FullContact Inc.

    COBALT advises Marginalen AB in the acquisition of consumer lending and leasing company AS GE Money

    BaltCap invests in the largest privately-owned postal operator in Latvia – Post Service Group

    Bite group companies refinance

    COBALT advised BaltCap on the investment in the chain of branded coffee shops Coffee Inn

    Advising Amserv Group in the acquisition of Adam Auto SIA

    We are driven by your recognition

    “Guntars is able to solve complex issues with the other side when there are compromises to be found.”
    Chambers Europe 2024, Corporate/Commercial
    Guntars Zīle has significant experience handling M&A mandates and is regularly instructed by clients from the private equity, insurance, and technology industries. "He is a very good lawyer and is highly regarded,” a client says.
    Chambers Europe 2023, Corporate/Commercial
    Guntars Zīle is adept at handling high-level M&A transactions and has significant experience in cross-border corporate matters. ‘He is hands-on, results-driven and helps to bring the deal over the line. He also has a commercial understanding,’ a client states.
    Chambers Global 2020, Corporate/Commercial