Nairobi, Feb. 23 -- South Africa's Nedbank is guaranteed to secure a controlling stake of at least 51.17 percent in NCBA Group after receiving additional acceptances from top shareholders of the Kenyan bank.

Nedbank, which has offered to buy a 66 percent stake in NCBA through a cash-and-stock deal, had earlier received commitments from major investors in the Nairobi Securities Exchange-listed firm with a combined ownership of 71.2 percent.

This meant that it was certain to acquire at least 46.992 percent in NCBA -based on the rule allowing each investor to tender 66 percent of their holdings- even if the rest of the shareholders snubbed its offer.

Nedbank now says that the group of investors from which it has received acceptances has g...