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@M_V
This seems to be a sachs freewheel though how closely it'll resemble what you have I don't know. The piece above the red bearing cages is what should be left on the hub and will need cut off. I think the piece beside that is the notched ring from the front of the freewheel assembly. Seems like that particular model maybe has a couple cogs to uncrew to get access to the notched ring.
Image came from FreeWheelSpa which has loads of photos of various freewheels in various states of dis and re assembly, might be useful.