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Thank you so much. I've tried to identify it myself, but my eyes are getting blurry!
It looks close to Billabong by Type Associates  except of /M
/M looks like Sonora (Bold) which once was published by URW++  and now is available from Profonts 
Thank you so much. I agree that it looks like a combination of both fonts. Thanks for coming up with the answer. I can't find the place where I can indicate that you solved the search. But thanks so much!