UPDATE 1-Russia Prokhorov to revive power holding from TGK-4

(Changes headline, adds analysis, background)

By Olga Popova and Simon Shuster

MOSCOW, April 7 (Reuters) - Russia's Onexim, controlled by billionaire Mikhail Prokhorov, wants to make its newly acquired stake in power firm TGK-4 TGKD.RTS the core of a major power holding, TGK4's parent company UES EESR.MM said on Monday.

Onexim bought a stake of around 50 percent in TGK-4 on Monday for some 12 billion roubles ($508.5 million), or 0.027 roubles per share, amounting to a value of $598 per kilowatt of TGK-4's generating capacity.

"(Prokhorov) came in virtually on the eve of the sale..."He wants to form his own power company on the basis of TGK-4," said Alexander Chikunov, the head of UES' Business Unit No. 1, which includes TGK-4.

Initially pegged as an emerging giant in the Russian power sector, Prokhorov has turned his focus away from the industry in recent months because of a difficult asset split with his former partner, Vladimir Potanin.

Prokhorov and Potanin, who jointly control metals major Norilsk Nickel (GMKN.MM: Quote, Profile, Research), decided last year to divide their vast industrial holdings, with Prokhorov getting the electricity assets and turning his attention to their development.

Among these was to be OGK-3 (OGKC.MM: Quote, Profile, Research), a major power producer that Norilsk acquired last March for $3.1 billion.